New Lifetime High Reached By Agree Realty (ADC)

Trade-Ideas LLC identified Agree Realty ( ADC) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Agree Realty as such a stock due to the following factors:

  • ADC has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $11.6 million.
  • ADC has traded 2,174 shares today.
  • ADC is trading at a new lifetime high.

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More details on ADC:

Agree Realty Corporation, a real estate investment trust (REIT), engages in the ownership, development, acquisition, and management of retail properties, which are primarily leased to national and regional retail companies in the United States. The stock currently has a dividend yield of 4%. ADC has a PE ratio of 22. Currently there are 6 analysts that rate Agree Realty a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Agree Realty has been 210,800 shares per day over the past 30 days. Agree has a market cap of $991.0 million and is part of the financial sector and real estate industry. The stock has a beta of 0.44 and a short float of 4.2% with 2.67 days to cover. Shares are up 41.9% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Agree Realty as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, compelling growth in net income, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:
  • The revenue growth came in higher than the industry average of 11.9%. Since the same quarter one year prior, revenues rose by 28.5%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Compared to its closing price of one year ago, ADC's share price has jumped by 65.37%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, ADC should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Real Estate Investment Trusts (REITs) industry average. The net income increased by 17.2% when compared to the same quarter one year prior, going from $6.37 million to $7.46 million.
  • Net operating cash flow has significantly increased by 83.59% to $16.54 million when compared to the same quarter last year. In addition, AGREE REALTY CORP has also vastly surpassed the industry average cash flow growth rate of 11.47%.
  • The gross profit margin for AGREE REALTY CORP is rather high; currently it is at 65.66%. Regardless of ADC's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, ADC's net profit margin of 36.89% compares favorably to the industry average.

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