Brokerages expect Agree Realty Co. (NYSE:ADC) to report $39.49 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Agree Realty’s earnings, with estimates ranging from $37.59 million to $40.54 million. Agree Realty posted sales of $31.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.2%. The business is expected to announce its next earnings results after the market closes on Thursday, February 28th.

According to Zacks, analysts expect that Agree Realty will report full year sales of $147.03 million for the current fiscal year, with estimates ranging from $145.15 million to $148.12 million. For the next year, analysts forecast that the firm will report sales of $179.29 million, with estimates ranging from $151.69 million to $192.13 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Agree Realty.

Agree Realty (NYSE:ADC) last posted its earnings results on Monday, October 22nd. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Agree Realty had a net margin of 44.17% and a return on equity of 6.46%. The firm had revenue of $37.31 million during the quarter, compared to analysts’ expectations of $36.97 million.

ADC has been the topic of a number of analyst reports. Jefferies Financial Group set a $58.00 price objective on Agree Realty and gave the company a “hold” rating in a report on Monday, September 17th. ValuEngine downgraded Agree Realty from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Raymond James boosted their price objective on shares of Agree Realty from $59.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, December 10th. Finally, Citigroup upped their price objective on shares of Agree Realty from $57.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $61.13.

In other news, COO Laith Hermiz sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $58.00, for a total transaction of $203,000.00. Following the completion of the transaction, the chief operating officer now directly owns 28,328 shares of the company’s stock, valued at approximately $1,643,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in Agree Realty by 12.9% during the fourth quarter. State of Alaska Department of Revenue now owns 22,451 shares of the real estate investment trust’s stock valued at $1,326,000 after purchasing an additional 2,574 shares during the period. Vanguard Group Inc lifted its position in shares of Agree Realty by 1.8% in the third quarter. Vanguard Group Inc now owns 3,391,589 shares of the real estate investment trust’s stock worth $180,161,000 after purchasing an additional 61,342 shares in the last quarter. Marshall Wace LLP bought a new stake in Agree Realty during the third quarter worth $230,000. Vanguard Group Inc. raised its position in Agree Realty by 1.8% during the third quarter. Vanguard Group Inc. now owns 3,391,589 shares of the real estate investment trust’s stock worth $180,161,000 after acquiring an additional 61,342 shares in the last quarter. Finally, Morgan Stanley raised its position in Agree Realty by 96.6% during the third quarter. Morgan Stanley now owns 170,773 shares of the real estate investment trust’s stock worth $9,070,000 after acquiring an additional 83,895 shares in the last quarter.

Agree Realty stock traded down $0.06 during mid-day trading on Friday, hitting $60.85. 22,734 shares of the stock were exchanged, compared to its average volume of 320,472. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.09. Agree Realty has a 12 month low of $43.74 and a 12 month high of $63.00. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 3.87 and a beta of 0.14.

The business also recently declared a quarterly dividend, which was paid on Friday, January 4th. Shareholders of record on Friday, December 21st were given a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 3.65%. This is a positive change from Agree Realty’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, December 20th. Agree Realty’s dividend payout ratio (DPR) is currently 81.62%.

Agree Realty Company Profile

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, 2018, the Company owned and operated a portfolio of 520 properties, located in 45 states and containing approximately 10.0 million square feet of gross leasable space.

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Earnings History and Estimates for Agree Realty (NYSE:ADC)

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