Agree Realty Corp reports results for the quarter ended in December - Earnings Summary

Agree Realty

13/02/2024 23:25

* Agree Realty Corp  ADC.N  reported quarterly adjusted
earnings
of 41 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of 44 cents.  The mean expectation of five analysts for the
quarter was for earnings of 46 cents per share. Wall Street
expected results to range from 45 cents to 46 cents per share.
    * Revenue rose 23.7% to $144.17 million from a year ago;
analysts
expected $139.40 million. 
    * Agree Realty Corp's reported EPS for the quarter was 44
cents​.
    * The company reported quarterly net income of $44.1
million.
    * Agree Realty Corp shares had fallen by 7.6% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 13 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the commercial
reits
peer group is also "buy"

Wall Street's median 12-month price target for Agree Realty Corp
is $67.00 
This summary was machine generated from LSEG data February 13 at
11:25 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      1.00           0.99           Missed
 Sep. 30 2023      0.99           0.99           Met
 Jun. 30 2023      0.98           0.98           Met
 Mar. 31 2023      0.96           0.98           Beat