Agree Realty (NYSE:ADC) Announces Quarterly Earnings Results

Agree Realty (NYSE:ADC) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Price Performance

ADC traded down $0.24 during midday trading on Tuesday, reaching $72.58. 1,051,465 shares of the company’s stock were exchanged, compared to its average volume of 855,398. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The stock 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. The business’s 50-day moving average price is $71.97 and its 200 day moving average price is $73.45. Agree Realty has a 1-year low of $54.28 and a 1-year high of $78.39.

Agree Realty Dividend Announcement

The firm also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.253 per share. This represents a yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty’s payout ratio is currently 167.96%.

Wall Street Analysts Forecast Growth

ADC has been the topic of several research reports. Stifel Nicolaus lowered their price objective on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays lowered their target price on shares of Agree Realty from $76.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Robert W. Baird lifted their target price on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $79.00 target price on shares of Agree Realty in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Agree Realty currently has a consensus 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.