Agree Realty (NYSE:ADC) Issues Earnings Results

Agree Realty (NYSE:ADC) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61, Zacks reports. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. Agree Realty updated its FY 2025 guidance to 4.260-4.300 EPS.

Agree Realty Trading Down 0.3 %

ADC stock traded down $0.24 during trading on Tuesday, reaching $72.58. 1,051,465 shares of the stock traded hands, compared to its average volume of 855,398. The business’s 50 day moving average price is $71.97 and its 200-day moving average price is $73.45. The firm has a market capitalization of $7.51 billion, a PE ratio of 40.10, a P/E/G ratio of 2.87 and a beta of 0.65. Agree Realty has a 52-week low of $54.28 and a 52-week high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66.

Agree Realty Dividend Announcement

The business also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.253 dividend. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is presently 167.96%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADC. Stifel Nicolaus decreased their target price on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. StockNews.com lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $79.00 to $84.00 in a report on Monday, January 6th. Truist Financial increased their price target on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company cut their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.93.

About Agree Realty

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.