Brokerages Set Agree Realty Corporation (NYSE:ADC) PT at $83.94

Shares of Agree Realty Corporation (NYSE:ADC) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $83.9375.

Several brokerages recently weighed in on ADC. Huntington began coverage on Agree Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price on the stock. Robert W. Baird set a $83.00 price target on Agree Realty in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price target on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a report on Friday, April 17th. Finally, Weiss Ratings upgraded shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th.

Agree Realty Price Performance

Shares of ADC opened at $73.31 on Friday. The company has a 50 day moving average of $76.70 and a two-hundred day moving average of $76.66. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. Agree Realty has a twelve month low of $69.56 and a twelve month high of $82.08. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.47.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. During the same period in the previous year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, analysts predict that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.267 per share. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, July 31st. Agree Realty’s payout ratio is currently 172.04%.

Insider Buying and Selling at Agree Realty

In related news, CEO Joey Agree acquired 13,295 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard Agree bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 19,045 shares of company stock worth $1,415,943. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in shares of Agree Realty by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 145 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Agree Realty by 2.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after acquiring an additional 154 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Agree Realty by 1.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock valued at $1,070,000 after acquiring an additional 154 shares during the period. IFM Investors Pty Ltd increased its holdings in Agree Realty by 0.9% in the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock worth $1,402,000 after buying an additional 171 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Agree Realty by 2.7% during the 4th quarter. Fifth Third Bancorp now owns 6,778 shares of the real estate investment trust’s stock valued at $488,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.