Agree Realty (NYSE:ADC) Posts Quarterly Earnings Results, Misses Expectations By $0.35 EPS
Agree Realty (NYSE:ADC) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.48 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.35), MarketWatch Earnings reports. Agree Realty had a net margin of 39.39% and a return on equity of 4.76%.
Agree Realty stock traded up $0.01 during mid-day trading on Tuesday, hitting $71.01. The company’s stock had a trading volume of 13,402 shares, compared to its average volume of 720,402. The firm has a market capitalization of $4.51 billion, a PE ratio of 38.59 and a beta of 0.25. Agree Realty has a 1 year low of $54.94 and a 1 year high of $72.68. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $68.59 and its two-hundred day moving average is $65.86.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 14th. Investors of record on Friday, April 30th will be given a $0.217 dividend. This represents a $2.60 annualized dividend and a yield of 3.67%. This is a positive change from Agree Realty’s previous monthly dividend of $0.21. The ex-dividend date is Thursday, April 29th. Agree Realty’s dividend payout ratio is presently 84.42%.
In other news, CFO Simon Leopold purchased 2,000 shares of the stock in a transaction dated Tuesday, March 2nd. The stock was acquired at an average cost of $63.75 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the chief financial officer now directly owns 17,529 shares in the company, valued at approximately $1,117,473.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Rakolta, Jr. purchased 10,000 shares of the stock in a transaction dated Tuesday, March 2nd. The shares were purchased at an average price of $63.50 per share, with a total value of $635,000.00. Following the completion of the transaction, the director now owns 245,613 shares of the company’s stock, valued at $15,596,425.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 19,870 shares of company stock valued at $1,263,111. Company insiders own 2.30% of the company’s stock.
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.
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