Agree Realty (NYSE:ADC – Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61), Yahoo Finance reports. The company had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. Agree Realty updated its FY24 guidance to $4.12-4.14 EPS and its FY 2024 guidance to 4.120-4.140 EPS.
Agree Realty Trading Up 0.7 %
Shares of ADC stock opened at $75.49 on Friday. Agree Realty has a 52-week low of $52.69 and a 52-week high of $77.47. The company has a 50-day simple moving average of $74.46 and a two-hundred day simple moving average of $66.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 44.12, a PEG ratio of 2.47 and a beta of 0.61.
Agree Realty Increases Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.253 per share. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, October 31st. Agree Realty’s dividend payout ratio (DPR) is presently 178.24%.
Analyst Ratings Changes
Agree Realty Company Profile
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.
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