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

Agree Realty

23/07/2024 22:21

* Agree Realty Corp  ADC.N  reported quarterly adjusted
earnings
of 52 cents​​ per share for the quarter ended in June, higher
than the same quarter last year, when the company reported EPS
of 40 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 44 cents per share. Wall Street
expected results to range from 41 cents to 46 cents per share.
    * Revenue rose 17.5% to $152.58 million from a year ago;
analysts
expected $147.85 million. 
    * Agree Realty Corp's reported EPS for the quarter was 52
cents​.
    * The company reported quarterly net income of $52.87
million.
    * Agree Realty Corp shares had risen by 7.1% this
quarter and
gained 5.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 14 "strong buy" or "buy," 4
"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 $67.25 
This summary was machine generated from LSEG data July 23 at
09:21 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
 Jun. 30 2024      1.02           1.03           Beat
 Mar. 31 2024      1.01           1.01           Met
 Dec. 31 2023      1.00           0.99           Missed
 Sep. 30 2023      0.99           0.99           Met