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). As of December 31, 2016, its portfolio included 363 net lease properties, which contributed approximately 98.1% of annualized base rent, and three community shopping centers. The Company's business objective is to generate consistent shareholder returns by investing in and actively managing a diversified portfolio of retail properties net leased to industry tenants. Its community shopping centers include Capital Plaza, Frankfort; Central Michigan Commons, Mount Pleasant, and West Frankfort Plaza, West Frankfort.
Industry, Sector and Symbol:
- Sector: Financials
- Industry: Retail REITs
- Sub-Industry: Retail REITs
- Symbol: NYSE:ADC
- CUSIP: 00849210
- Web: www.agreerealty.com/
Capitalization:- Market Cap: $1.42383 billion
- Outstanding Shares: 28,407,000
Average Prices:- 50 Day Moving Avg: $49.69
- 200 Day Moving Avg: $47.99
- 52 Week Range: $41.01 - $51.50
P/E:- Trailing P/E Ratio: 22.37
- Foreward P/E Ratio: 17.03
- P/E Growth: -28.53
Sales & Book Value:- Annual Revenue: $104.1 million
- Price / Sales: 13.57
- Book Value: $27.93 per share
- Price / Book: 1.78
Dividend:- Annual Dividend: $2.02
- Dividend Yield: 4.1%
Profitability:- EBIDTA: $84.76 million
- Net Margins: 53.66%
- Return on Equity: 8.07%
- Return on Assets: 4.94%
Debt:- Debt-to-Equity Ratio: 0.54%
- Current Ratio: 0.80%
- Quick Ratio: 0.80%
Misc:- Average Volume: 215,319 shs.
- Beta: 0.58
- Short Ratio: 1.45
Frequently Asked Questions for Agree Realty (NYSE:ADC)
What is Agree Realty's stock symbol?
Agree Realty trades on the New York Stock Exchange (NYSE) under the ticker symbol "ADC."
How often does Agree Realty pay dividends? What is the dividend yield for Agree Realty?
Agree Realty announced a quarterly dividend on Tuesday, September 5th. Investors of record on Friday, September 29th will be given a dividend of $0.505 per share on Friday, October 13th. This represents a $2.02 annualized dividend and a yield of 4.06%. The ex-dividend date is Thursday, September 28th. View Agree Realty's Dividend History.
How were Agree Realty's earnings last quarter?
Agree Realty Co. (NYSE:ADC) announced its earnings results on Monday, July, 24th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.39 by $0.17. The business earned $28.10 million during the quarter, compared to the consensus estimate of $27.66 million. Agree Realty had a net margin of 53.66% and a return on equity of 8.07%. The firm's revenue for the quarter was up 28.7% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. View Agree Realty's Earnings History.
When will Agree Realty make its next earnings announcement?
Where is Agree Realty's stock going? Where will Agree Realty's stock price be in 2017?
10 brokerages have issued 1-year target prices for Agree Realty's shares. Their predictions range from $46.00 to $58.00. On average, they anticipate Agree Realty's share price to reach $51.88 in the next year. View Analyst Ratings for Agree Realty.
What are analysts saying about Agree Realty stock?
Here are some recent quotes from research analysts about Agree Realty stock:
- 1. According to Zacks Investment Research, "Agree Realty Corp. is a self-administered, self-managed real estate investment trust which develops, acquires, owns and operates properties which are primarily leased to major national and regional retail companies under net leases. " (8/1/2017)
- 2. Jefferies Group LLC analysts commented, "Given prospects of interest rates rising faster in 2017 than our previous expectations, and the associated negative impact on triple-net retail stocks, we are downgrading ADC to Hold from Buy and lowering our PT to $49 from $53. That said, we think ADC is still well positioned relative to its peers heading into 2017, and our new PT still implies an 8% total return over the NTM. Cautious on Triple-Net Retail in 2017. We are cautious on the sector in 2017 given potentially accelerating economic growth driving a rising rate environment with the Fed dot plot projecting three interest rate increases in 2017. Triple-Net stocks tend to underperform in a rising rate environment given the long-term nature of their leases provide a more bond- like income stream. Further, as funding costs rise, cap rates tend not to adjust as quickly, so net investment spreads tend to compress and slow acquisition volume and FFO/sh growth." (1/5/2017)
Who are some of Agree Realty's key competitors?
Some companies that are related to Agree Realty include Urban Edge Properties (UE), Acadia Realty Trust (AKR), Tanger Factory Outlet Centers (SKT), American Assets Trust (AAT), Kite Realty Group Trust (KRG), Four Corners Property Trust (FCPT), Washington Prime Group (WPG), Saul Centers (BFS), Getty Realty Corporation (GTY), Ramco-Gershenson Properties Trust (RPT), Pennsylvania Real Estate Investment Trust (PEI), Cedar Realty Trust (CDR), Capital & Regional plc (CAL), Wheeler Real Estate Investment Trust (WHLR), Retail Opportunity Investments Corp. (ROIC) and Rouse Properties (RSE).
Who are Agree Realty's key executives?
Agree Realty's management team includes the folowing people:
- Richard Agree, Executive Chairman of the Board
- Joey Agree, President, Chief Executive Officer, Director
- Matthew Morris Partridge, Chief Financial Officer, Executive Vice President, Secretary
- Laith M. Hermiz, Chief Operating Officer, Executive Vice President
- Merrie S. Frankel, Independent Director
- Farris G. Kalil, Independent Director
- John Rakolta Jr., Independent Director
- Jerome R. Rossi, Independent Director
- William S. Rubenfaer, Independent Director
Who owns Agree Realty stock?
Agree Realty's stock is owned by a variety of of institutional and retail investors. Top institutional investors include BlackRock Inc. (13.53%), Vanguard Group Inc. (12.37%), Principal Financial Group Inc. (3.30%), Northern Trust Corp (2.95%), State Street Corp (2.67%) and Bank of New York Mellon Corp (2.50%). Company insiders that own Agree Realty stock include Gene Silverman, John Rakolta Jr, Merrie S Frankel, Richard Agree and William S Rubenfaer. View Institutional Ownership Trends for Agree Realty.
Who sold Agree Realty stock? Who is selling Agree Realty stock?
Agree Realty's stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Principal Financial Group Inc., Robeco Institutional Asset Management B.V., Westpac Banking Corp, Dalton Greiner Hartman Maher & Co., Parametric Portfolio Associates LLC, California Public Employees Retirement System and Strs Ohio. View Insider Buying and Selling for Agree Realty.
Who bought Agree Realty stock? Who is buying Agree Realty stock?
Agree Realty's stock was acquired by a variety of institutional investors in the last quarter, including William Blair Investment Management LLC, Vanguard Group Inc., Franklin Resources Inc., Teachers Advisors LLC, BlackRock Inc., Northpointe Capital LLC, Kennedy Capital Management Inc. and Citadel Advisors LLC. Company insiders that have bought Agree Realty stock in the last two years include Gene Silverman, John Rakolta Jr, Merrie S Frankel, Richard Agree and William S Rubenfaer. View Insider Buying and Selling for Agree Realty.
How do I buy Agree Realty stock?
Shares of Agree Realty can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Agree Realty's stock price today?
One share of Agree Realty stock can currently be purchased for approximately $49.72.
MarketBeat Community Rating for Agree Realty (NYSE ADC)MarketBeat's community ratings are surveys of what our community members think about Agree Realty and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Consensus Ratings for Agree Realty (NYSE:ADC) (How are Consensus Ratings Calculated?) MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
| Ratings Breakdown: | 4 Hold Ratings, 6 Buy Ratings |
| Consensus Rating: | Buy (Score: 2.60) |
| Consensus Price Target: | $51.88 (4.33% upside) |
Analysts' Ratings History for Agree Realty (NYSE:ADC)
Show:
| Date | Firm | Action | Rating | Price Target | Impact on Share Price | Details |
|---|
| 9/18/2017 | FBR & Co | Reiterated Rating | Buy | $56.00 -> $58.00 | Low |  |
| 8/22/2017 | Stifel Nicolaus | Reiterated Rating | Buy | $54.00 | Low | |
| 7/24/2017 | Canaccord Genuity | Reiterated Rating | Buy | $53.00 | High | |
| 5/26/2017 | Jefferies Group LLC | Reiterated Rating | Hold | $50.00 | Low | |
| 5/20/2017 | Raymond James Financial, Inc. | Reiterated Rating | Buy | | Low | |
| 2/27/2017 | Wunderlich | Downgrade | Buy -> Hold | $49.00 -> $51.00 | N/A | |
| 1/26/2017 | Wells Fargo & Co | Initiated Coverage | Market Perform | | N/A | |
| 12/22/2016 | Citigroup Inc. | Initiated Coverage | Neutral | $46.00 | N/A | |
| 12/16/2016 | SunTrust Banks, Inc. | Initiated Coverage | Buy | $50.00 | N/A | |
| 10/18/2016 | Janney Montgomery Scott | Reiterated Rating | Buy | $53.00 | N/A | |
| 10/28/2015 | Compass Point | Reiterated Rating | Buy | $34.00 -> $36.00 | N/A | |
(Data available from 9/24/2015 forward)
Earnings History for Agree Realty (NYSE:ADC)Earnings History by Quarter for Agree Realty (NYSE ADC)| Date | Quarter | Consensus Estimate | Actual EPS | Revenue Estimate | Actual Revenue | Release Link | Conference Call | Details |
|---|
| 10/23/2017 | | $0.40 | | | | | N/A | |
| 7/24/2017 | 6/30/2017 | $0.39 | $0.56 | $27.66 million | $28.10 million | View | N/A | |
| 4/24/2017 | Q1 2017 | $0.65 | $0.65 | $26.11 million | $26.56 million | View | N/A | |
| 2/23/2017 | Q416 | $0.38 | $0.64 | $24.68 million | $25.30 million | View | N/A | |
| 10/24/2016 | Q316 | $0.64 | $0.68 | $24.21 million | $22.30 million | View | N/A | |
| 7/25/2016 | Q216 | $0.61 | $0.61 | $21.27 million | $21.84 million | View | N/A | |
| 4/25/2016 | Q116 | $0.61 | $0.61 | $20.15 million | $20.20 million | View | N/A | |
| 3/3/2016 | Q4 | $0.60 | $0.60 | $18.64 million | $19.15 million | View | N/A | |
| 10/26/2015 | Q315 | $0.61 | $0.60 | $18.08 million | $16.70 million | View | Listen | |
| 7/27/2015 | Q215 | $0.60 | $0.62 | $16.90 million | $16.10 million | View | Listen | |
| 4/27/2015 | Q414 | $0.57 | $0.57 | $15.64 million | $15.70 million | View | N/A | |
| 2/23/2015 | Q314 | $0.60 | $0.58 | $14.20 million | $13.48 million | View | N/A | |
| 2/24/2014 | Q4 13 | $0.55 | $0.56 | $12.15 million | $11.70 million | View | N/A | |
| 10/28/2013 | Q313 | $0.55 | $0.55 | $11.24 million | $11.60 million | View | N/A | |
| 7/29/2013 | Q213 | $0.51 | $0.51 | $10.56 million | | View | N/A | |
| 4/29/2013 | Q113 | $0.50 | $0.49 | $10.05 million | $10.25 million | View | N/A | |
| 2/27/2013 | Q412 | $0.51 | $0.52 | $9.27 million | $9.58 million | View | N/A | |
(Data available from 1/1/2011 forward)
Earnings Estimates for Agree Realty (NYSE:ADC)2017 EPS Consensus Estimate: $2.70
2018 EPS Consensus Estimate: $2.95
| Quarter | Number of Estimates | Low Estimate | High Estimate | Average Estimate |
|---|
| Q1 2017 | 2 | $0.64 | $0.64 | $0.64 |
| Q2 2017 | 2 | $0.67 | $0.68 | $0.68 |
| Q3 2017 | 2 | $0.68 | $0.69 | $0.69 |
| Q4 2017 | 3 | $0.69 | $0.72 | $0.70 |
| Q1 2018 | 2 | $0.71 | $0.73 | $0.72 |
| Q2 2018 | 2 | $0.71 | $0.74 | $0.73 |
| Q3 2018 | 2 | $0.75 | $0.75 | $0.75 |
| Q4 2018 | 2 | $0.75 | $0.76 | $0.76 |
(Data provided by Zacks Investment Research)
Current Dividend Information for Agree Realty (NYSE:ADC)| Next Dividend: | 10/13/2017 |
| Annual Dividend: | $2.02 |
| Dividend Yield: | 4.06% |
| Dividend Growth: | -4.40% (3 Year Average) |
| Payout Ratio: | 90.58% (Trailing 12 Months of Earnings)
74.54% (Based on This Year's Estimates)
69.18% (Based on Next Year's Estimates)
|
| Track Record: | 4 Years of Consecutive Dividend Growth |
Dividend History by Quarter for Agree Realty (NYSE ADC)| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 9/5/2017 | quarterly | $0.51 | 4.03% | 9/28/2017 | 9/29/2017 | 10/13/2017 |
| 5/22/2017 | quarterly | $0.51 | 4.45% | 6/28/2017 | 6/30/2017 | 7/14/2017 |
| 3/1/2017 | quarterly | $0.50 | 4.03% | 3/29/2017 | 3/31/2017 | 4/14/2017 |
| 12/7/2016 | quarterly | $0.50 | 4.37% | 12/21/2016 | 12/23/2016 | 1/3/2017 |
| 9/9/2016 | quarterly | $0.48 | 4.08% | 9/28/2016 | 9/30/2016 | 10/14/2016 |
| 5/3/2016 | quarterly | $0.48 | 4.79% | 6/28/2016 | 6/30/2016 | 7/15/2016 |
| 3/2/2016 | quarterly | $0.47 | 4.93% | 3/29/2016 | 3/31/2016 | 4/15/2016 |
| 12/2/2015 | quarterly | $0.47 | 5.56% | 12/18/2015 | 12/22/2015 | 1/5/2016 |
| 9/16/2015 | quarterly | $0.47 | 6.39% | 9/28/2015 | 9/30/2015 | 10/13/2015 |
| 5/5/2015 | quarterly | $0.47 | 6.09% | 6/26/2015 | 6/30/2015 | 7/14/2015 |
| 3/6/2015 | quarterly | $0.45 | 5.69% | 3/27/2015 | 3/31/2015 | 4/14/2015 |
| 12/2/2014 | quarterly | $0.45 | 5.82% | 12/19/2014 | 12/23/2014 | 1/6/2015 |
| 9/9/2014 | quarterly | $0.43 | 5.95% | 9/26/2014 | 9/30/2014 | 10/14/2014 |
| 6/3/2014 | quarterly | $0.43 | 5.7% | 6/26/2014 | 6/30/2014 | 7/8/2014 |
| 3/4/2014 | quarterly | $0.43 | 5.44% | 3/27/2014 | 3/31/2014 | 4/8/2014 |
| 12/3/2013 | quarterly | $0.41 | 5.77% | 12/18/2013 | 12/20/2013 | 1/3/2014 |
| 9/11/2013 | quarterly | $0.41 | 5.84% | 9/26/2013 | 9/30/2013 | 10/8/2013 |
| 6/4/2013 | quarterly | $0.41 | 5.16% | 6/26/2013 | 6/28/2013 | 7/9/2013 |
| 3/5/2013 | quarterly | $0.41 | 5.75% | 3/26/2013 | 3/29/2013 | 4/9/2013 |
| 12/4/2012 | quarterly | $0.40 | | | 12/17/2012 | 1/2/2013 |
(Data available from 1/1/2013 forward)
Insider Trading and Institutional Ownership History for Agree Realty (NYSE:ADC)Insider Ownership Percentage: 4.40%
Institutional Ownership Percentage: 85.31%
Insider Trades by Quarter for Agree Realty (NYSE:ADC)| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Details |
|---|
| 5/17/2017 | Merrie S Frankel | Director | Buy | 100 | $45.12 | $4,512.00 | |
| 5/16/2017 | William S Rubenfaer | Director | Buy | 2,500 | $44.92 | $112,300.00 | |
| 5/4/2017 | John Rakolta Jr | Director | Buy | 10,000 | $44.82 | $448,200.00 | |
| 5/4/2017 | Richard Agree | Insider | Buy | 25,000 | $44.73 | $1,118,250.00 | |
| 11/14/2016 | Gene Silverman | Director | Buy | 2,000 | $41.10 | $82,200.00 | |
| 10/26/2016 | John Rakolta Jr | Director | Buy | 12,000 | $47.50 | $570,000.00 | |
| 8/24/2015 | Joey Agree | CEO | Buy | 8,400 | $28.96 | $243,264.00 | |
| 8/24/2015 | Richard Agree | Chairman | Buy | 15,000 | $28.78 | $431,700.00 | |
| 8/24/2015 | William S. Rubenfaer | Director | Buy | 4,000 | $28.86 | $115,440.00 | |
| 6/26/2015 | Joey Agree | CEO | Buy | 9,809 | $29.61 | $290,444.49 | |
| 6/8/2015 | Richard Agree | Chairman | Buy | 10,000 | $29.97 | $299,700.00 | |
| 6/3/2015 | William S Rubenfaer | Director | Buy | 2,000 | $30.15 | $60,300.00 | |
| 12/4/2014 | Richard Agree | Chairman | Buy | 25,000 | $29.67 | $741,750.00 | |
| 12/4/2014 | William S Rubenfaer | Director | Buy | 3,000 | $29.67 | $89,010.00 | |
| 5/8/2014 | William Rubenfaer | Director | Buy | 1,150 | $29.59 | $34,028.50 | |
| 3/27/2014 | Laith Hermiz | EVP | Sell | 3,305 | $30.25 | $99,976.25 | |
| 12/20/2013 | William Rubenfaer | Director | Buy | 2,000 | $28.16 | $56,320.00 | |
| 11/21/2013 | John Rakolta, Jr. | Director | Buy | 20,000 | $29.80 | $596,000.00 | |
| 3/27/2013 | John Rakolta Jr | Director | Buy | 14,677 | $27.90 | $409,488.30 | |
| 3/25/2013 | John Rakolta Jr | Director | Buy | 10,894 | $27.89 | $303,833.66 | |
| 1/15/2013 | John Rakolta Jr | Director | Buy | 50,000 | $27.25 | $1,362,500.00 | |
(Data available from 1/1/2013 forward)
Headline Trends for Agree Realty (NYSE:ADC)
Latest Headlines for Agree Realty (NYSE:ADC)
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Agree Realty (ADC) Chart for Sunday, September, 24, 2017
