Agree Realty Corporation (ADC) reported quarterly earnings results on Monday, Apr-25-2016. The company reported $0.61 EPS for the quarter. Analysts had a consensus estimate of $0.61. The company posted revenue of $20.22 million in the period, compared to analysts expectations of $20.13 million. The company’s revenue was up 28.5% compared to the same quarter last year.
Many Wall Street Analysts have commented on Agree Realty Corporation. Agree Realty Corporation was Initiated by Jefferies to “Buy” on Apr 21, 2016. Company shares were Reiterated by Wunderlich on Mar 8, 2016 to “Buy”, Firm has raised the Price Target to $ 40.50 from a previous price target of $38 .
Agree Realty Corporation opened for trading at $39.17 and hit $39.64 on the upside on Friday, eventually ending the session at $39.38, with a gain of 1.18% or 0.46 points. The heightened volatility saw the trading volume jump to 1,14,890 shares. Company has a market cap of $815 M.
In a different news, on Aug 25, 2015, Joey Agree (CEO) purchased 8,400 shares at $28.96 per share price. According to the SEC, on Aug 24, 2015, William S. Rubenfaer (director) purchased 4,000 shares at $28.86 per share price. On Aug 24, 2015, Richard Agree (Executive Chairman) purchased 15,000 shares at $28.78 per share price, according to the Form-4 filing with the securities and exchange commission.
Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership acquisition development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership) of which it is the sole general partner and in which Agree Realty held a 98.06% interest as of December 31 2014. As of March 9 2015 the Company owned and operated a portfolio of 224 properties located in 38 states and it consists of approximately 4.6 million square feet of gross leasable space. Its portfolio includes 203 net lease properties which contributed approximately 91.6% of annualized base rent and six community shopping centers which generated the remaining 8.4% of annualized base rent. The Company’s primary tenant is Walgreens Boot Alliance Inc. which operates a chain of drugstores in the United States.