Agree Realty (ADC) Scheduled to Post Earnings on Tuesday

Agree Realty (NYSE:ADCGet Free Report) will post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Agree Realty to post earnings of $1.01 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Agree Realty Price Performance

Shares of ADC opened at $56.56 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. Agree Realty has a 1 year low of $52.69 and a 1 year high of $69.26. The stock has a market cap of $5.69 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 2.62 and a beta of 0.52. The stock’s 50-day moving average price is $56.58 and its two-hundred day moving average price is $58.19.

Agree Realty Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, April 29th. This is a boost from Agree Realty’s previous monthly dividend of $0.25. Agree Realty’s payout ratio is 173.10%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on Agree Realty in a report on Tuesday, February 13th. They set an “outperform” rating and a $69.00 price objective on the stock. Mizuho cut their price objective on Agree Realty from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Wells Fargo & Company cut their price objective on Agree Realty from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Stifel Nicolaus cut their price objective on Agree Realty from $70.00 to $69.50 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Finally, Royal Bank of Canada dropped their target price on Agree Realty from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.61.

Get Our Latest Stock Report on ADC

Insider Buying and Selling

In other news, CEO Joey Agree purchased 2,000 shares of Agree Realty stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the purchase, the chief executive officer now directly owns 557,903 shares of the company’s stock, valued at approximately $32,112,896.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John Rakolta, Jr. purchased 20,430 shares of Agree Realty stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of $57.00 per share, for a total transaction of $1,164,510.00. Following the purchase, the director now directly owns 392,549 shares of the company’s stock, valued at approximately $22,375,293. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joey Agree purchased 2,000 shares of Agree Realty stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $57.56 per share, with a total value of $115,120.00. Following the completion of the purchase, the chief executive officer now directly owns 557,903 shares in the company, valued at $32,112,896.68. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 42,482 shares of company stock valued at $2,397,572. 1.60% of the stock is owned by insiders.

Institutional Trading of Agree Realty

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in shares of Agree Realty by 75.2% during the 4th quarter. Morgan Stanley now owns 2,506,775 shares of the real estate investment trust’s stock valued at $177,806,000 after acquiring an additional 1,075,648 shares during the period. Vanguard Group Inc. lifted its position in shares of Agree Realty by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,644,530 shares of the real estate investment trust’s stock valued at $854,518,000 after acquiring an additional 797,668 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Agree Realty by 184.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 926,315 shares of the real estate investment trust’s stock valued at $66,815,000 after acquiring an additional 601,073 shares during the period. State Street Corp lifted its position in shares of Agree Realty by 11.7% during the 1st quarter. State Street Corp now owns 4,313,393 shares of the real estate investment trust’s stock valued at $287,195,000 after acquiring an additional 451,462 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Agree Realty by 33.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,592,060 shares of the real estate investment trust’s stock valued at $109,230,000 after acquiring an additional 400,084 shares during the period. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Company Profile

(Get Free Report)

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.

See Also

Earnings History for Agree Realty (NYSE:ADC)

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