Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Agree Realty (ADC)
NYSE:ADC
Holding ADC?
Track your performance easily
Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.43Last Year’s EPS
$0.44Same Quarter Last Year
Moderate Buy
Based on 19 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: -5.95%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive outlook with strong growth in acquisitions, improved credit ratings, and robust liquidity, offset slightly by exposure to tenant bankruptcies and minor credit losses.Company Guidance
During the Agree Realty Q3 2024 earnings call, the company provided updated guidance, highlighting a strong financial position with nearly $2 billion in liquidity and a focus on high-quality acquisitions. For the full year, acquisition guidance was increased to approximately $850 million, while AFFO per share guidance was raised to a range of $4.12 to $4.14, representing a 4.6% year-over-year growth at the midpoint. The company reported that it had raised $470 million of forward equity through its ATM program and held a pro forma net debt to recurring EBITDA leverage of 3.6x by the end of the quarter. S&P upgraded Agree Realty's credit rating to BBB+, recognizing the strength of its balance sheet. The company invested about $237 million during the third quarter in 93 high-quality retail net lease properties, with a weighted average cap rate of 7.5% and an average lease term of 9.8 years. Additionally, they executed leases on approximately 785,000 square feet of gross leasable area, with occupancy remaining strong at 99.6%. Looking ahead, Agree Realty aims to continue executing on its growing pipeline into 2025 without any equity capital needs, leveraging its improved cost of capital and strategic acquisitions.Improved Credit Rating and Strong Balance Sheet
S&P upgraded the credit rating to BBB+ in recognition of the strength of the balance sheet and high-quality portfolio. Leverage stood at 3.6x pro forma net debt to recurring EBITDA, and liquidity approached $2 billion.
Increased Acquisition Guidance
Acquisition guidance increased to approximately $850 million for the full year, due to a well-positioned balance sheet and improved market dynamics.
Significant Investment in Retail Properties
Invested approximately $237 million in 93 high-quality retail net lease properties during the third quarter. This included acquisitions in sectors such as general merchandise and grocery stores.
Strong Operating Metrics
Investment-grade retailer exposure at quarter end was 67.5%, with occupancy remaining strong at 99.6%.
Record Liquidity and Capital Market Activity
Raised nearly $470 million of forward equity and upsized revolving credit facility to $1.25 billion. Total liquidity surpassed $1.9 billion.
---
ADC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
ADC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $74.61 | $76.17 | +2.09% |
| Jul 23, 2024 | $65.56 | $66.70 | +1.74% |
| Apr 23, 2024 | $55.88 | $56.67 | +1.41% |
| Feb 13, 2024 | $55.15 | $54.08 | -1.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Agree Realty (ADC) report earnings?
Agree Realty (ADC) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Agree Realty (ADC) earnings time?
Agree Realty (ADC) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ADC EPS forecast?
ADC EPS forecast for the fiscal quarter 2024 (Q4) is $0.43.
---