Agree Realty Corporation (NYSE:ADC) Receives $83.79 Average Target Price from Analysts

Shares of Agree Realty Corporation (NYSE:ADC) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $83.7857.

A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Raymond James Financial boosted their price objective on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, March 17th. Citigroup boosted their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Mizuho reduced their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th.

Insiders Place Their Bets

In other Agree Realty news, CEO Joey Agree purchased 13,295 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the transaction, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greg Lehmkuhl purchased 750 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the transaction, the director owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 14,191 shares of company stock worth $1,069,944. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Agree Realty

Large investors have recently made changes to their positions in the business. Clearstead Trust LLC increased its position in shares of Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 242 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of Agree Realty by 100.0% during the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Agree Realty during the third quarter worth $32,000. Clearstead Advisors LLC increased its position in shares of Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 285 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 192 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $74.21 on Friday. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 40.11, a price-to-earnings-growth ratio of 2.49 and a beta of 0.50. Agree Realty has a 52 week low of $69.56 and a 52 week high of $82.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $76.31 and a 200 day moving average of $75.27.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, sell-side analysts predict that Agree Realty will post 4.44 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a dividend of $0.267 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. Agree Realty’s dividend payout ratio is presently 172.97%.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.