News headlines about Agree Realty (NYSE:ADC) have been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Agree Realty earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned news articles about the real estate investment trust an impact score of 46.2957202137804 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media stories that may have impacted Accern’s rankings:
- BRIEF-Agree Realty Announces Pricing Of Forward Common Stock Offering (reuters.com)
- Agree Realty Announces Forward Common Stock Offering (finance.yahoo.com)
- TripAdvisor Once Again Names Grace Bay Beach the World’s Best Beach–and REMAX Real Estate Group Turks & Caicos Couldn’t Agree More (markets.businessinsider.com)
- Graham Holdings seeks approval for 401 homes in Miami-Dade (bizjournals.com)
Shares of Agree Realty (NYSE:ADC) opened at $47.92 on Friday. Agree Realty has a twelve month low of $43.74 and a twelve month high of $53.65. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1,395.28, a price-to-earnings ratio of 22.93, a PEG ratio of 3.30 and a beta of 0.45.
Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Agree Realty had a return on equity of 7.22% and a net margin of 49.86%. The firm had revenue of $31.52 million during the quarter, compared to analyst estimates of $31.46 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. sell-side analysts expect that Agree Realty will post 2.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.08 dividend on an annualized basis and a yield of 4.34%. Agree Realty’s dividend payout ratio (DPR) is 99.52%.
Several analysts have issued reports on the company. Zacks Investment Research cut Agree Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Jefferies Group reiterated a “neutral” rating on shares of Agree Realty in a report on Thursday, March 1st. ValuEngine upgraded Agree Realty from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price objective on shares of Agree Realty in a report on Thursday, January 4th. Finally, B. Riley set a $58.00 price objective on Agree Realty and gave the company a “buy” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $55.13.
In other news, Director John Rakolta, Jr. bought 12,500 shares of Agree Realty stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average price of $47.19 per share, for a total transaction of $589,875.00. Following the purchase, the director now directly owns 189,933 shares of the company’s stock, valued at approximately $8,962,938.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.40% of the company’s stock.
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About Agree Realty
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).
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