Cigna earnings beat by $0.04, revenue topped estimates
ROYAL OAK, MI - Agree Realty Corporation (NYSE:ADC), a real estate investment trust currently valued at $8.24 billion, disclosed its weighted-average number of common shares outstanding for the first quarter ended March 31, 2025. The data, based on a recent SEC filing, indicates a weighted-average of 107,321,055 common shares outstanding, reduced by 272,498 unvested restricted shares, resulting in 107,048,557 shares for the calculation of basic earnings per share. The company’s stock is trading near its 52-week high of $78.39, according to InvestingPro data.
The company also accounted for dilutive securities, including share-based compensation and forward equity offerings, which increased the weighted-average number of common shares used in the diluted earnings per share calculation to 107,547,193. Additionally, Operating Partnership Units (OP Units) contributed to a combined total of 107,894,812 shares for diluted earnings per share.
The potential dilution from forward equity offerings was calculated using the treasury stock method, which added 362,947 weighted-average incremental shares to the diluted share count for the quarter.
The financial statement was signed by Peter Coughenour, Agree Realty’s Chief Financial Officer and Secretary, affirming the accuracy of the reported figures.
Investors and analysts often use the number of shares outstanding to assess a company’s market capitalization and earnings per share, key indicators of financial health and performance. This announcement provides essential information for evaluating Agree Realty’s current share structure and potential impact on future earnings per share.
This report is grounded in the information provided by the company’s SEC filing.
In other recent news, Agree Realty Corporation reported several significant developments. Barclays (LON:BARC) upgraded its stock rating from Underweight to Equal Weight, increasing the price target from $64.00 to $65.00. This upgrade reflects a change in perspective due to Agree Realty’s appealing valuation and a softening economic outlook in the United States, according to Barclays. Stifel analysts maintained their Buy rating with an $81.00 price target, expressing confidence in the company’s financial health and growth prospects for 2025. They highlighted Agree Realty’s strong liquidity position and a stable income stream from investment-grade tenants.
RBC Capital Markets adjusted its price target for Agree Realty, lowering it from $80 to $79 while maintaining an Outperform rating. This adjustment followed an analysis of the company’s recent acquisitions, which exceeded both the company’s and RBC Capital’s estimates for 2024. Agree Realty’s acquisitions in 2024 totaled $867 million, surpassing the anticipated $850 million, with a consistent capitalization rate of 7.3%. Looking forward, Agree Realty has set its 2025 investment volume guidance between $1.1 billion and $1.3 billion, slightly below RBC Capital’s prior estimates. Despite the reduced price target, RBC Capital noted the company’s solid acquisition strategy and conservative growth projections.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.