Agree Realty (NYSE:ADC) Stock Price Target Lowered at Wells Fargo & Company

Agree Realty (NYSE:ADC) had its price target cut by stock analysts at Wells Fargo & Company from $83.00 to $79.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 20.39% from the company’s previous close.

A number of other equities analysts have also weighed in on ADC. Huntington assumed coverage on Agree Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective on the stock. Barclays raised their target price on Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Robert W. Baird set a $83.00 price target on Agree Realty in a report on Friday, July 31st. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut shares of Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.56.

Agree Realty Price Performance

ADC stock traded down $1.42 during mid-day trading on Monday, reaching $65.62. The company’s stock had a trading volume of 281,609 shares, compared to its average volume of 1,333,205. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $70.19 and its two-hundred day moving average is $74.33. Agree Realty has a fifty-two week low of $64.43 and a fifty-two week high of $82.08. The stock has a market cap of $8.16 billion, a PE ratio of 35.32, a P/E/G ratio of 2.25 and a beta of 0.42.

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

Insider Buying and Selling

In other Agree Realty news, CEO Joey Agree bought 7,360 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average price of $68.06 per share, with a total value of $500,921.60. Following the completion of the purchase, the chief executive officer directly owned 682,465 shares in the company, valued at $46,448,567.90. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Rakolta, Jr. bought 20,000 shares of Agree Realty stock in a transaction on Wednesday, September 16th. The stock was acquired at an average price of $68.78 per share, for a total transaction of $1,375,600.00. Following the transaction, the director directly owned 654,602 shares of the company’s stock, valued at approximately $45,023,525.56. This trade represents a 3.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 48,496 shares of company stock worth $3,418,670. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds have recently modified their holdings of ADC. BlackRock Inc. acquired a new stake in shares of Agree Realty during the second quarter worth about $1,447,551,000. Principal Financial Group Inc. grew its holdings in shares of Agree Realty by 5.4% in the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock valued at $341,180,000 after purchasing an additional 232,532 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Agree Realty by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,771,018 shares of the real estate investment trust’s stock valued at $133,498,000 after purchasing an additional 89,009 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Agree Realty in the second quarter valued at approximately $130,921,000. Finally, Deutsche Bank AG purchased a new stake in Agree Realty during the 2nd quarter worth approximately $104,747,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) that acquires, develops, and manages retail properties across the United States. The company primarily uses a net-lease structure, under which tenants generally are responsible for property-level operating expenses such as taxes, insurance, and maintenance.

Its portfolio is focused mainly on essential retail properties occupied by nationally recognized and regional tenants, including grocery stores, home improvement retailers, dollar stores, pharmacies, and other necessity-based businesses.