Agree Realty (NYSE:ADC) Posts Earnings Results

Agree Realty (NYSE:ADC - Get Free Report) announced its earnings results on Tuesday. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.01, Zacks reports. The company had revenue of $169.16 million during the quarter, compared to the consensus estimate of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same quarter in the prior year, the company earned $0.43 earnings per share. Agree Realty updated its FY 2025 guidance to 4.270-4.300 EPS.

Agree Realty Stock Performance

Shares of ADC stock traded down $0.63 during trading hours on Friday, reaching $75.66. The company had a trading volume of 1,732,967 shares, compared to its average volume of 1,008,573. The firm has a market cap of $8.32 billion, a PE ratio of 42.51, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The business has a fifty day moving average price of $75.26 and a 200-day moving average price of $74.03. Agree Realty has a one year low of $57.02 and a one year high of $79.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78.

Agree Realty Increases Dividend

The business also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.256 per share. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Agree Realty's previous apr 25 dividend of $0.25. Agree Realty's dividend payout ratio (DPR) is presently 173.45%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADC shares. Barclays raised shares of Agree Realty from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. Wells Fargo & Company increased their target price on Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a research report on Monday, March 10th. Robert W. Baird lifted their price target on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday. Royal Bank of Canada decreased their price objective on Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, Evercore ISI raised their price objective on Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.88.

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.