Agree Realty Corporation (NYSE:ADC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Agree Realty Corporation (NYSE:ADC) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $80.6250.

Several equities analysts have recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research note on Monday, June 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday. Evercore ISI boosted their price objective on Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. UBS Group boosted their price objective on Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Finally, Mizuho reduced their price objective on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th.

Agree Realty Trading Up 2.1%

Shares of ADC opened at $72.09 on Friday. Agree Realty has a 52-week low of $67.58 and a 52-week high of $79.65. The business’s fifty day moving average is $72.20 and its 200-day moving average is $73.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 2.30 and a beta of 0.55.

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

Agree Realty Dividend Announcement

The company also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a dividend of $0.256 per share. The ex-dividend date is Tuesday, September 30th. This represents a yield of 432.0%. Agree Realty’s payout ratio is currently 182.74%.

Insider Transactions at Agree Realty

In related news, Director John Rakolta, Jr. bought 25,154 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were purchased at an average cost of $70.41 per share, with a total value of $1,771,093.14. Following the acquisition, the director owned 553,700 shares of the company’s stock, valued at $38,986,017. This represents a 4.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg Lehmkuhl bought 750 shares of the business’s stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the acquisition, the director directly owned 27,684 shares in the company, valued at approximately $2,016,502.56. This trade represents a 2.78% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 36,742 shares of company stock worth $2,601,704. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new position in Agree Realty during the 1st quarter worth about $27,000. Farther Finance Advisors LLC lifted 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 buying an additional 306 shares during the period. SVB Wealth LLC acquired a new position in Agree Realty during the 1st quarter worth about $33,000. Capital Advisors Ltd. LLC lifted 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 buying an additional 270 shares during the period. Finally, NBC Securities Inc. acquired a new position in Agree Realty during the 1st quarter worth about $39,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Company Profile

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.