Agree Realty Corporation (NYSE:ADC) Earning Somewhat Favorable Media Coverage, Accern Reports
Press coverage about Agree Realty Corporation (NYSE:ADC) has trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Agree Realty Corporation earned a coverage optimism score of 0.10 on Accern’s scale. Accern also assigned media headlines about the real estate investment trust an impact score of 0 out of 100, meaning that recent news coverage is extremely unlikely to have an impact on the company’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- Agree Realty Corporation (NYSE:ADC) Given Daily Media Impact Score of 0.56 (footballhebdo.com)
- Agree Realty Corporation (NYSE:ADC) Cut to “Sell” at BidaskClub (techzolix.com)
- ETFs with exposure to Agree Realty Corp. : July 14, 2017 (finance.yahoo.com)
- Agree Realty Corp. breached its 50 day moving average in a Bullish Manner : ADC-US : July 13, 2017 (finance.yahoo.com)
- Agree Realty Corporation (NYSE:ADC) Experiences Lighter than Usual Trading Volume (highlightpress.com)
Shares of Agree Realty Corporation (NYSE ADC) traded up 1.58% during midday trading on Friday, reaching $46.88. 148,771 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $46.55 and its 200 day moving average price is $47.19. The stock has a market capitalization of $1.33 billion, a P/E ratio of 21.60 and a beta of 0.58. Agree Realty Corporation has a 1-year low of $41.01 and a 1-year high of $51.50.
Agree Realty Corporation (NYSE:ADC) last issued its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. The firm had revenue of $26.56 million during the quarter, compared to analysts’ expectations of $26.11 million. Agree Realty Corporation had a net margin of 53.37% and a return on equity of 8.33%. Agree Realty Corporation’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. On average, equities analysts predict that Agree Realty Corporation will post $1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Wednesday, June 28th. This is a boost from Agree Realty Corporation’s previous quarterly dividend of $0.50. Agree Realty Corporation’s dividend payout ratio (DPR) is 93.95%.
A number of research firms have weighed in on ADC. FBR & Co reiterated a “buy” rating on shares of Agree Realty Corporation in a report on Saturday, May 6th. BidaskClub lowered shares of Agree Realty Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Agree Realty Corporation in a research note on Saturday, May 20th. Jefferies Group LLC restated a “hold” rating and issued a $50.00 price objective on shares of Agree Realty Corporation in a research note on Monday, April 24th. Finally, Stifel Nicolaus upped their price objective on Agree Realty Corporation from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $51.75.
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In related news, Director William S. Rubenfaer acquired 2,500 shares of Agree Realty Corporation stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average price of $44.92 per share, for a total transaction of $112,300.00. Following the completion of the purchase, the director now directly owns 20,101 shares of the company’s stock, valued at $902,936.92. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Rakolta, Jr. bought 10,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were acquired at an average price of $44.82 per share, with a total value of $448,200.00. Following the completion of the acquisition, the director now directly owns 169,133 shares in the company, valued at approximately $7,580,541.06. The disclosure for this purchase can be found here. Insiders bought a total of 37,600 shares of company stock valued at $1,683,262 in the last 90 days. Company insiders own 4.40% of the company’s stock.
About Agree Realty Corporation
Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).
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