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

Shares of Agree Realty Corporation (NYSE:ADC) have received an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $83.9375.

Several research analysts have recently issued reports on the company. Robert W. Baird set a $83.00 price objective on Agree Realty in a research report on Friday, July 31st. Jefferies Financial Group started coverage on Agree Realty in a research report on Monday, June 1st. They set a “buy” rating and a $84.00 target price on the stock. Huntington started coverage on Agree Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price for the company. Mizuho lowered their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th.

Insiders Place Their Bets

In other news, Director John Rakolta, Jr. acquired 20,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average cost of $73.23 per share, for a total transaction of $1,464,600.00. Following the transaction, the director directly owned 622,061 shares in the company, valued at approximately $45,553,527.03. This represents a 3.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard Agree purchased 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the purchase, the chairman owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 25,136 shares of company stock valued at $1,831,649. 1.80% of the stock is owned by company insiders.

Institutional Trading of Agree Realty

Several hedge funds and other institutional investors have recently made changes to their positions in ADC. Pasadena Private Wealth LLC purchased a new position in shares of Agree Realty during the 4th quarter worth $1,349,000. Lasalle Investment Management Securities LLC grew its position in shares of Agree Realty by 6.2% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock valued at $48,586,000 after purchasing an additional 39,119 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Agree Realty by 7.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock valued at $58,916,000 after purchasing an additional 54,478 shares during the last quarter. Vision Capital Corp acquired a new position in Agree Realty in the fourth quarter valued at $3,920,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Agree Realty by 6,172.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after buying an additional 99,003 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Price Performance

Agree Realty stock opened at $72.36 on Tuesday. 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 52-week low of $69.56 and a 52-week high of $82.08. The firm has a market cap of $9.00 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47. The company’s 50 day moving average is $76.75 and its two-hundred day moving average is $76.75.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company 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 firm earned $1.06 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, research analysts expect that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.267 dividend. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 4.4%. Agree Realty’s payout ratio is currently 172.04%.

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.