Agree Realty (NYSE:ADC) Issues Quarterly Earnings Results

Key Points

• Agree Realty reported a quarterly earnings per share of $1.06, exceeding analysts' expectations of $1.05, with a year-over-year revenue increase of 15.0% to $175.53 million.
• The company announced a monthly dividend of $0.256 to be paid on August 14th, with a current dividend yield of 4.2% and a payout ratio of 173.45%.
• Institutional ownership stands at 97.83% of Agree Realty's stock, with Jane Street Group increasing its position by 268.9% in the last quarter.

Agree Realty (NYSE:ADC - Get Free Report) issued its earnings results on Thursday. The real estate investment trust reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.01, Zacks reports. Agree Realty had a net margin of 30.05% and a return on equity of 3.66%. The firm had revenue of $175.53 million during the quarter, compared to analyst estimates of $173.95 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. Agree Realty's revenue for the quarter was up 15.0% on a year-over-year basis. Agree Realty updated its FY 2025 guidance to 4.290-4.320 EPS.

Agree Realty Trading Up 2.0%

Shares of ADC traded up $1.44 during midday trading on Friday, hitting $73.14. The stock had a trading volume of 383,176 shares, compared to its average volume of 1,200,330. Agree Realty has a 1 year low of $67.58 and a 1 year high of $79.65. The firm has a market cap of $8.05 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.36 and a beta of 0.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.72 and a quick ratio of 0.72. The stock's 50 day moving average is $73.64 and its 200 day moving average is $74.13.

Agree Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.256 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.2%. Agree Realty's dividend payout ratio is currently 173.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADC shares. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Stifel Nicolaus upped their target price on shares of Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley lowered shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 target price for the company. in a research report on Friday, July 11th. Mizuho dropped their target price on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Finally, JMP Securities restated a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.32.

Institutional Investors Weigh In On Agree Realty

An institutional investor recently raised its position in Agree Realty stock. Jane Street Group LLC grew its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 268.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,365 shares of the real estate investment trust's stock after acquiring an additional 19,948 shares during the quarter. Jane Street Group LLC's holdings in Agree Realty were worth $2,112,000 at the end of the most recent reporting period. Institutional investors own 97.83% of the company's stock.

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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