Research Analysts Issue Forecasts for Agree Realty Co.’s Q3 2021 Earnings (NYSE:ADC)

Agree Realty Co. (NYSE:ADC) – Equities research analysts at Capital One Financial boosted their Q3 2021 earnings per share estimates for Agree Realty in a research report issued on Thursday, September 9th. Capital One Financial analyst C. Lucas now anticipates that the real estate investment trust will post earnings of $0.90 per share for the quarter, up from their prior forecast of $0.89. Capital One Financial also issued estimates for Agree Realty’s Q4 2021 earnings at $0.92 EPS, FY2021 earnings at $3.56 EPS, Q1 2022 earnings at $0.93 EPS, Q2 2022 earnings at $0.96 EPS, Q3 2022 earnings at $0.99 EPS, Q4 2022 earnings at $0.97 EPS, FY2022 earnings at $3.86 EPS, Q1 2023 earnings at $1.00 EPS, Q2 2023 earnings at $1.04 EPS and FY2023 earnings at $4.14 EPS.

Agree Realty (NYSE:ADC) last posted its earnings results on Sunday, July 25th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.12). Agree Realty had a return on equity of 3.64% and a net margin of 32.93%.

A number of other analysts have also weighed in on ADC. Mizuho upped their target price on Agree Realty from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, August 24th. Zacks Investment Research lowered Agree Realty from a “buy” rating to a “hold” rating in a report on Monday, September 6th. BTIG Research increased their price objective on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Truist increased their price objective on Agree Realty from $78.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 30th. Finally, Wells Fargo & Company increased their price objective on Agree Realty from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, June 25th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Agree Realty has a consensus rating of “Buy” and a consensus price target of $80.41.

Agree Realty stock opened at $71.11 on Monday. The business has a fifty day moving average of $73.86 and a two-hundred day moving average of $70.76. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.49. The firm has a market cap of $4.90 billion, a P/E ratio of 43.63 and a beta of 0.31. Agree Realty has a twelve month low of $61.27 and a twelve month high of $75.95.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Agree Realty by 7.3% in the 2nd quarter. BlackRock Inc. now owns 13,127,040 shares of the real estate investment trust’s stock valued at $925,326,000 after acquiring an additional 896,061 shares during the period. Vanguard Group Inc. increased its position in shares of Agree Realty by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 10,523,655 shares of the real estate investment trust’s stock valued at $741,813,000 after acquiring an additional 1,061,045 shares during the period. Principal Financial Group Inc. increased its position in shares of Agree Realty by 12.6% in the 2nd quarter. Principal Financial Group Inc. now owns 6,472,037 shares of the real estate investment trust’s stock valued at $456,213,000 after acquiring an additional 726,359 shares during the period. Jefferies Group LLC acquired a new position in shares of Agree Realty in the 2nd quarter valued at $266,241,000. Finally, State Street Corp increased its position in shares of Agree Realty by 8.9% in the 2nd quarter. State Street Corp now owns 3,457,112 shares of the real estate investment trust’s stock valued at $244,435,000 after acquiring an additional 282,814 shares during the period.

The company also recently announced a monthly dividend, which was paid on Tuesday, September 14th. Investors of record on Tuesday, August 31st were given a $0.217 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Monday, August 30th. Agree Realty’s payout ratio is 80.50%.

Agree Realty Company Profile

Agree Realty Corp. is a real estate investment trust, which focuses on the ownership, development, acquisition, and management of retail properties net leased to national tenants. It specializes in acquiring and developing net leased retail properties for retail tenants. The company was founded by Richard Agree in 1971 and is headquartered in Bloomfield Hills, MI.

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Earnings History and Estimates for Agree Realty (NYSE:ADC)

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