Agree Realty Co. (NYSE:ADC) has been assigned an average rating of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $55.83.
A number of research firms have commented on ADC. ValuEngine downgraded Agree Realty from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded Agree Realty from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Jefferies Group reissued a “neutral” rating on shares of Agree Realty in a report on Thursday, March 1st. B. Riley set a $58.00 target price on Agree Realty and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Ladenburg Thalmann set a $55.00 target price on Agree Realty and gave the company a “buy” rating in a report on Friday, January 19th.
Agree Realty traded up $0.18, reaching $49.80, during midday trading on Monday, Marketbeat Ratings reports. The company’s stock had a trading volume of 219,207 shares, compared to its average volume of 202,351. Agree Realty has a fifty-two week low of $43.74 and a fifty-two week high of $53.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $1.44 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.40.
Agree Realty (NYSE:ADC) last released its earnings results on Monday, April 23rd. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). Agree Realty had a net margin of 48.16% and a return on equity of 6.97%. The business had revenue of $34.57 million during the quarter, compared to analyst estimates of $33.45 million. sell-side analysts predict that Agree Realty will post 2.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.34%. This is a boost from Agree Realty’s previous quarterly dividend of $0.52. Agree Realty’s dividend payout ratio (DPR) is currently 76.47%.
In other news, Director John Rakolta, Jr. purchased 12,500 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was acquired at an average price of $47.19 per share, for a total transaction of $589,875.00. Following the completion of the transaction, the director now directly owns 189,933 shares in the company, valued at approximately $8,962,938.27. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ADC. Dimensional Fund Advisors LP increased its position in Agree Realty by 7.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 410,991 shares of the real estate investment trust’s stock worth $20,172,000 after purchasing an additional 28,541 shares in the last quarter. California Public Employees Retirement System increased its position in Agree Realty by 7.3% during the 3rd quarter. California Public Employees Retirement System now owns 45,079 shares of the real estate investment trust’s stock worth $2,212,000 after purchasing an additional 3,079 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Agree Realty by 14.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 140,356 shares of the real estate investment trust’s stock worth $7,220,000 after purchasing an additional 17,281 shares in the last quarter. Westpac Banking Corp purchased a new stake in Agree Realty during the 4th quarter worth about $3,064,000. Finally, GW&K Investment Management LLC purchased a new stake in Agree Realty during the 4th quarter worth about $233,000. Hedge funds and other institutional investors own 97.45% of the company’s stock.
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 December 31, 2017, the Company owned and operated a portfolio of 436 properties, located in 43 states and containing approximately 8.7 million square feet of gross leasable space.
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