Agree Realty Co. (NYSE:ADC) – Truist Securiti lifted their Q2 2021 EPS estimates for shares of Agree Realty in a report released on Friday, June 4th. Truist Securiti analyst K. Kim now forecasts that the real estate investment trust will earn $0.88 per share for the quarter, up from their previous forecast of $0.85. Truist Securiti also issued estimates for Agree Realty’s Q3 2021 earnings at $0.89 EPS. Agree Realty (NYSE:ADC) last released its quarterly earnings data on Sunday, May 2nd. The real estate investment trust reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.35). Agree Realty had a return on equity of 4.10% and a net margin of 37.05%.
A number of other equities research analysts have also recently issued reports on the company. Mizuho cut Agree Realty from a “buy” rating to a “neutral” rating and set a $73.00 target price for the company. in a research report on Thursday. Stifel Nicolaus upped their target price on Agree Realty from $73.50 to $74.25 and gave the stock a “buy” rating in a research report on Friday, April 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.61.
Shares of Agree Realty stock opened at $71.59 on Monday. The company has a market capitalization of $4.59 billion, a PE ratio of 40.68 and a beta of 0.31. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $69.50. Agree Realty has a 12-month low of $61.23 and a 12-month high of $73.00.
Hedge funds have recently modified their holdings of the stock. Fieldpoint Private Securities LLC bought a new position in Agree Realty in the fourth quarter worth $25,000. Meeder Asset Management Inc. raised its stake in Agree Realty by 258.5% during the fourth quarter. Meeder Asset Management Inc. now owns 423 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 305 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Agree Realty by 378.0% during the first quarter. Panagora Asset Management Inc. now owns 631 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 499 shares in the last quarter. Signaturefd LLC raised its stake in Agree Realty by 403.6% during the fourth quarter. Signaturefd LLC now owns 700 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 561 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new stake in shares of Agree Realty in the first quarter valued at $51,000.
The company also recently announced a monthly dividend, which will be paid on Friday, June 11th. Investors of record on Friday, May 28th will be given a $0.217 dividend. The ex-dividend date is Thursday, May 27th. This represents a $2.60 annualized dividend and a yield of 3.64%. Agree Realty’s dividend payout ratio (DPR) is currently 80.50%.
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, 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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