Agree Realty Corporation (NYSE:ADC) publicly traded real estate investment trust, is reporting second quarter earnings results on Monday 20th July 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.39 per share.
For the full year, analysts predict revenues of $ 232.46 million, while looking forward to income of $ 1.73 per share.
Previous Quarter Performance
Agree Realty Corporation announced income for the first quarter of $ 0.81 per share, from the revenue of $ 55.81 million. The quarterly earnings elevated 68.75 percent while revenues swell 31.78 percent compared with the same quarter last year.
Street analysts expected Agree Realty Corporation to report income of $ 0.44 per share on revenue of $ 54.65 million for the first quarter. The bottom line results beat street analysts by $ 0.37 or 84.09 percent, at the same time, top line results outshined analysts by $ 1.16 million or 2.12 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of ADC was $ 65.69, representing a 45.24 % increase from the 52 week low of $ 45.23 and a 18.41 % decrease over the 52 week high of $ 80.51.
The company has a market capital of $ 3.54 billion and is part of the Financial sector and Property Management industry.
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Recent Analyst recommendations
On 10th June 2020, maintained by Wells Fargo & Co at Overweight rating, with $ 75.00 target price.
Recent Stock Dividend Announcement
On May 7, 2020, the board of directors authorized quarterly dividend of $ 0.60 per share to holders of record as of the close of business on June 26, 2020, with payment date of July 10, 2020 and ex-dividend date on June 25, 2020.
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2019, the Company owned and operated a portfolio of 789 properties, located in 46 states and containing approximately 14.0 million square feet of gross leasable space. The common stock of Agree Realty Corporation is listed on the New York Stock Exchange under the symbol “ADC”.
