Agree Realty Corporation (NYSE:ADC) publicly traded real estate investment trust, is reporting third quarter earnings results on Monday 19th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.42 per share.
For the full year, analysts predict revenues of $ 241.11 million, while looking forward to income of $ 1.77 per share.
Previous Quarter Performance
Agree Realty Corporation disclosed income for the second quarter of $ 0.76 per share, from the revenue of $ 57.53 million. The quarterly earnings raised 68.89 percent while revenues up 28.07 percent compared with the same quarter last year.
According to street consensus, ADC was expected to report 2Q20 income of $ 0.39 per share from revenue of $ 55.42 million. The bottom line results beat street analysts by $ 0.37 or 94.87 percent, at the same time, top line results outshined analysts by $ 2.11 million or 3.81 percent.
Stock Performance
On Friday, shares of Agree Realty Corporation has traded high as $ 66.24 and has cracked $ 64.87 on the downward trend, reaching $ 65.37 with volume of 334.00 thousand shares.
According to the previous trading day, closing price of $ 65.37, representing a 45.50 % increase from the 52 week low of $ 45.23 and a 18.26 % decrease over the 52 week high of $ 80.51.
The company has a market capital of $ 3.52 billion and is part of the Financial sector and Property Management industry.
Recent Analyst recommendations
- On 30th September 2020, initiated by Mizuho at Buy rating, with $ 71.00 target price.
Conference Call
Agree Realty Corporation will be hosting a conference call at 9:00 AM eastern time on 20th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.agreerealty.com
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”.
