Agree Realty (NYSE:ADC) Price Target Lowered to $77.00 at Barclays

Agree Realty (NYSE:ADC) had its price target cut by Barclays from $78.00 to $77.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Morgan Stanley cut shares of Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price objective for the company. in a research report on Friday, July 11th. Evercore ISI upped their price objective on shares of Agree Realty from $82.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. BTIG Research cut shares of Agree Realty from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus upped their price objective on shares of Agree Realty from $81.00 to $82.50 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $73.8830 on Wednesday. The firm has a 50 day moving average of $73.15 and a 200-day moving average of $74.25. The stock has a market capitalization of $8.18 billion, a PE ratio of 43.98, a PEG ratio of 2.39 and a beta of 0.55. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. Agree Realty has a 12 month low of $67.58 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, equities research analysts predict that Agree Realty will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.256 per share. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 29th. Agree Realty’s payout ratio is presently 182.74%.

Insiders Place Their Bets

In other Agree Realty news, CEO Joey Agree bought 2,100 shares of Agree Realty stock in a transaction on Thursday, August 14th. The shares were purchased at an average cost of $72.08 per share, with a total value of $151,368.00. Following the acquisition, the chief executive officer directly owned 635,160 shares of the company’s stock, valued at $45,782,332.80. The trade was a 0.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have purchased 6,950 shares of company stock worth $501,296. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

A number of institutional investors have recently added to or reduced their stakes in ADC. Cullen Frost Bankers Inc. bought a new stake in Agree Realty during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC grew its holdings in Agree Realty by 408.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 306 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in Agree Realty during the 4th quarter worth approximately $31,000. SVB Wealth LLC bought a new stake in Agree Realty during the 1st quarter worth approximately $33,000. Finally, Capital Advisors Ltd. LLC grew its holdings in Agree Realty by 137.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 270 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.