Agree Realty Corporation (NYSE:ADC) Receiving Favorable Press Coverage, Report Shows
Media headlines about Agree Realty Corporation (NYSE:ADC) have been trending positive recently, Accern reports. The research group scores the sentiment of press coverage by reviewing more than 20 million news and blog sources in real-time. 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 news impact score of 0.36 on Accern’s scale. Accern also gave headlines about the real estate investment trust an impact score of 0 out of 100, indicating that recent press coverage is extremely unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Agree Realty Corp (ADC) Placed Under the Lens – FLBC News (flbcnews.com)
- Agree Realty Corp (ADC) Shares Climb Above Balance Step – Financial News Review (finnewsreview.com)
- Agree Realty Corporation (NYSE:ADC) Experiences Heavier than Average Trading Volume (footballhebdo.com)
- Agree Realty Corporation (NYSE:ADC) Experiences Heavier than Average Trading Volume – Highlight Press (highlightpress.com)
- Following the Needle on Agree Realty Corp (ADC): Technical Watch on the Shares – Hayden Business Journal (haydenbusinessjournal.com)
Agree Realty Corporation (NYSE:ADC) traded up 0.36% on Tuesday, reaching $49.59. The company had a trading volume of 170,830 shares. The stock has a market capitalization of $1.41 billion, a PE ratio of 22.31 and a beta of 0.59. Agree Realty Corporation has a 52-week low of $41.01 and a 52-week high of $51.50. The stock has a 50 day moving average price of $47.40 and a 200 day moving average price of $47.52.
Agree Realty Corporation (NYSE:ADC) last released its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.17. Agree Realty Corporation had a net margin of 54.22% and a return on equity of 8.23%. The business had revenue of $28.10 million for the quarter, compared to analyst estimates of $27.66 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s revenue was up 28.7% compared to the same quarter last year. Analysts expect that Agree Realty Corporation will post $1.87 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a dividend of $0.505 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 4.07%. This is a positive change from Agree Realty Corporation’s previous quarterly dividend of $0.50. Agree Realty Corporation’s payout ratio is currently 90.58%.
ADC has been the topic of several recent research reports. Canaccord Genuity initiated coverage on Agree Realty Corporation in a report on Tuesday, July 18th. They set a “buy” rating and a $53.00 target price on the stock. FBR & Co set a $56.00 target price on Agree Realty Corporation and gave the stock a “buy” rating in a report on Wednesday, June 14th. Raymond James Financial, Inc. restated a “buy” rating on shares of Agree Realty Corporation in a report on Saturday, May 20th. Stifel Nicolaus boosted their target price on Agree Realty Corporation from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Finally, BidaskClub upgraded Agree Realty Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Agree Realty Corporation has an average rating of “Buy” and an average price target of $51.89.
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In related news, Director William S. Rubenfaer acquired 2,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average price of $44.92 per share, for a total transaction of $112,300.00. Following the purchase, the director now owns 20,101 shares in the company, valued at $902,936.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by insiders.
Agree Realty Corporation Company Profile
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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