Brokers Issue Forecasts for Agree Realty Co.’s Q3 2022 Earnings (NYSE:ADC)
Agree Realty Co. (NYSE:ADC – Get Rating) – Analysts at Capital One Financial lowered their Q3 2022 earnings per share (EPS) estimates for Agree Realty in a note issued to investors on Tuesday, October 4th. Capital One Financial analyst C. Lucas now expects that the real estate investment trust will earn $0.95 per share for the quarter, down from their previous estimate of $0.99. The consensus estimate for Agree Realty’s current full-year earnings is $3.88 per share. Capital One Financial also issued estimates for Agree Realty’s Q4 2022 earnings at $0.96 EPS, FY2022 earnings at $3.85 EPS, Q1 2023 earnings at $0.97 EPS, Q2 2023 earnings at $0.97 EPS, Q3 2023 earnings at $0.99 EPS, Q4 2023 earnings at $0.99 EPS, FY2023 earnings at $3.92 EPS, Q1 2024 earnings at $0.99 EPS, Q2 2024 earnings at $0.99 EPS, Q3 2024 earnings at $1.03 EPS, FY2024 earnings at $4.05 EPS and FY2025 earnings at $4.27 EPS.
ADC has been the subject of several other reports. Royal Bank of Canada raised their target price on Agree Realty from $76.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Credit Suisse Group began coverage on Agree Realty in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $78.00 target price for the company. Truist Financial raised their target price on Agree Realty from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. JMP Securities raised their target price on Agree Realty from $81.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 3rd. Finally, Citigroup lifted their price objective on Agree Realty to $80.00 in a report on Monday, August 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.41.
Agree Realty Stock Down 1.5 %
Shares of ADC stock opened at $65.77 on Thursday. The stock has a market cap of $5.25 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.59 and a beta of 0.45. Agree Realty has a one year low of $61.62 and a one year high of $80.44. The stock has a fifty day moving average price of $75.06 and a 200 day moving average price of $71.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.98 and a quick ratio of 0.98.
Agree Realty (NYSE:ADC – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Agree Realty had a return on equity of 4.38% and a net margin of 37.13%. During the same period in the previous year, the business earned $0.89 earnings per share.
Institutional Trading of Agree Realty
Hedge funds and other institutional investors have recently made changes to their positions in the business. North Star Investment Management Corp. acquired a new stake in shares of Agree Realty in the first quarter valued at $33,000. Meeder Asset Management Inc. increased its stake in shares of Agree Realty by 88.1% in the second quarter. Meeder Asset Management Inc. now owns 476 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 223 shares in the last quarter. CWM LLC increased its stake in shares of Agree Realty by 261.5% in the first quarter. CWM LLC now owns 564 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 408 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Agree Realty in the first quarter valued at $38,000. Finally, New Century Advisors LLC increased its stake in shares of Agree Realty by 56.1% in the second quarter. New Century Advisors LLC now owns 576 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 207 shares in the last quarter.
Agree Realty Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.234 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.27%. Agree Realty’s dividend payout ratio (DPR) is presently 148.68%.
About Agree Realty
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Agree Realty, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Agree Realty wasn’t on the list.
While Agree Realty currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
