Agree Realty Co. (NYSE:ADC) announced a quarterly dividend on Wednesday, March 1st. Investors of record on Friday, March 31st will be paid a dividend of 0.495 per share by the real estate investment trust on Friday, April 14th. This represents a $1.98 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Wednesday, March 29th.
Shares of Agree Realty (NYSE:ADC) opened at 47.77 on Tuesday. The company’s 50 day moving average is $48.03 and its 200 day moving average is $46.67. The company has a market cap of $1.24 billion, a P/E ratio of 24.25 and a beta of 0.60. Agree Realty has a 12 month low of $38.00 and a 12 month high of $51.33.
Agree Realty (NYSE:ADC) last released its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.26. The company earned $25.30 million during the quarter, compared to analysts’ expectations of $24.68 million. Agree Realty had a net margin of 47.05% and a return on equity of 7.88%. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts predict that Agree Realty will post $1.68 EPS for the current fiscal year.
Several research firms have issued reports on ADC. Jefferies Group LLC cut shares of Agree Realty from a “buy” rating to a “hold” rating and lowered their price objective for the company from $53.00 to $49.00 in a research report on Thursday, January 5th. Zacks Investment Research raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Thursday, January 5th. Wells Fargo & Co began coverage on shares of Agree Realty in a research report on Thursday, January 26th. They issued a “market perform” rating for the company. Wunderlich cut shares of Agree Realty from a “buy” rating to a “hold” rating and boosted their price objective for the company from $49.00 to $51.00 in a research report on Monday, February 27th. They noted that the move was a valuation call. Finally, Citigroup Inc began coverage on shares of Agree Realty in a research report on Thursday, December 22nd. They issued a “neutral” rating and a $46.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Agree Realty currently has an average rating of “Buy” and an average price target of $51.50.
Agree Realty Company Profile
Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).
Receive News & Ratings for Agree Realty Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty Co. and related companies with MarketBeat.com's FREE daily email newsletter.