Agree Realty (NYSE:ADC – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.120-4.140 for the period, compared to the consensus earnings per share estimate of 4.110. The company issued revenue guidance of -. Agree Realty also updated its FY24 guidance to $4.12-4.14 EPS.
Agree Realty Stock Up 0.2 %
Agree Realty stock traded up $0.13 during trading hours on Tuesday, hitting $75.11. 645,526 shares of the stock traded hands, compared to its average volume of 945,913. The firm’s 50-day moving average price is $74.23 and its two-hundred day moving average price is $66.21. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.56 billion, a PE ratio of 44.09, a PEG ratio of 2.47 and a beta of 0.61. Agree Realty has a one year low of $52.69 and a one year high of $77.30.
Agree Realty (NYSE:ADC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.51). The firm had revenue of $152.58 million for the quarter, compared to the consensus estimate of $150.35 million. Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, research analysts forecast that Agree Realty will post 4.11 EPS for the current year.
Agree Realty Increases Dividend
Analyst Upgrades and Downgrades
ADC has been the topic of a number of analyst reports. Truist Financial boosted their price target on Agree Realty from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BTIG Research boosted their price target on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Raymond James boosted their price target on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 21st. KeyCorp boosted their price target on Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price target (up from $77.00) on shares of Agree Realty in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $73.04.
Check Out Our Latest Stock Analysis on Agree Realty
About Agree Realty
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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