Factors Likely to Have Influenced Earnings Results Agree Realty (NYSE:ADC)

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Earnings results for Agree Realty (NYSE:ADC)

Agree Realty Corporation is expected* to report earnings on 10/19/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.79. The reported EPS for the same quarter last year was $0.77.

Agree Realty last issued its quarterly earnings data on July 20th, 2020. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.25. The firm earned $57.54 million during the quarter, compared to analyst estimates of $55.23 million. Agree Realty has generated $3.08 earnings per share over the last year and currently has a price-to-earnings ratio of 33.7. Agree Realty has confirmed that its next quarterly earnings report will be published on Monday, October 19th, 2020.

Analyst Opinion on Agree Realty (NYSE:ADC)

10 Wall Street analysts have issued ratings and price targets for Agree Realty in the last 12 months. Their average twelve-month price target is $74.90, predicting that the stock has a possible upside of 14.58%. The high price target for ADC is $82.00 and the low price target for ADC is $69.00. There are currently 9 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”

Agree Realty has received a consensus rating of Buy. The company’s average rating score is 3.10, and is based on 9 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $74.90, Agree Realty has a forecasted upside of 14.6% from its current price of $65.37. Agree Realty has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: Agree Realty (NYSE:ADC)

Agree Realty pays a meaningful dividend of 3.67%, higher than the bottom 25% of all stocks that pay dividends. Agree Realty has been increasing its dividend for 7 years. The dividend payout ratio of Agree Realty is 77.92%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Agree Realty will have a dividend payout ratio of 70.80% next year. This indicates that Agree Realty will be able to sustain or increase its dividend.

Insiders buying/selling: Agree Realty (NYSE:ADC)

In the past three months, Agree Realty insiders have not sold or bought any company stock. Only 2.30% of the stock of Agree Realty is held by insiders.

Earnings and Valuation of Agree Realty (NYSE:ADC

Earnings for Agree Realty are expected to grow by 6.60% in the coming year, from $3.18 to $3.39 per share. The P/E ratio of Agree Realty is 33.70, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.73. The P/E ratio of Agree Realty is 33.70, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 18.39. Agree Realty has a P/B Ratio of 1.64. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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