Agree Realty (ADC) to Release Earnings on Tuesday

Agree Realty (NYSE:ADC) is scheduled to be releasing its earnings data after the market closes on Tuesday, October 22nd. Analysts expect Agree Realty to post earnings of $1.03 per share for the quarter. Agree Realty has set its FY24 guidance at $4.11-4.14 EPS and its FY 2024 guidance at 4.110-4.140 EPS.Persons interested in participating in the company’s conference call can do so using this link.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.51). Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. The business had revenue of $152.58 million for the quarter, compared to analysts’ expectations of $150.35 million. During the same quarter last year, the business posted $0.98 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. On average, analysts expect Agree Realty to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Agree Realty Stock Down 0.4 %

ADC stock opened at $75.58 on Monday. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 44.46, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The company has a fifty day moving average price of $74.17 and a 200 day moving average price of $66.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.79 and a quick ratio of 0.79. Agree Realty has a 12 month low of $52.69 and a 12 month high of $77.30.

Agree Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.253 per share. The ex-dividend date of this dividend is Thursday, October 31st. This is an increase from Agree Realty’s previous monthly dividend of $0.25. This represents a $3.04 annualized dividend and a yield of 4.02%. Agree Realty’s dividend payout ratio is currently 178.24%.

Analyst Ratings Changes

ADC has been the topic of a number of recent research reports. KeyCorp boosted their target price on Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 4th. UBS Group boosted their price objective on shares of Agree Realty from $72.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. BTIG Research raised their target price on shares of Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Raymond James boosted their price target on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada increased their price target on shares of Agree Realty from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $73.04.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.