Agree Realty Corp reports results for the quarter ended in September 30 - Earnings Summary

Agree Realty

23/10/2024 05:13

* Agree Realty Corp  ADC.N  reported quarterly adjusted
earnings
of 42 cents​​ per share for the quarter ended September 30,
higher than the same quarter last year, when the company
reported EPS of 37 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 43 cents per
share. Wall Street expected results to range from 40 cents to 45
cents per share.
    * Revenue rose 12.8% to $154.33 million from a year ago;
analysts
expected $150.81 million. 
    * Agree Realty Corp's reported EPS for the quarter was 42
cents​.
    * The company reported quarterly net income of $42.52
million.
    * Agree Realty Corp shares had fallen by 0.5% this
quarter and
gained 19.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.1%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

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 77.00 
This summary was machine generated from LSEG data October 23 at
04:13 a.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
 Sep. 30 2024      1.02           1.01           Missed
 Jun. 30 2024      1.01           1.03           Beat
 Mar. 31 2024      1.00           1.01           Beat
 Dec. 31 2023      1.00           0.99           Missed