Agree Realty (NYSE:ADC) CEO Acquires $1,002,575.95 in Stock

Agree Realty Corporation (NYSE:ADC) CEO Joey Agree bought 13,295 shares of the stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the purchase, the chief executive officer directly owned 675,105 shares in the company, valued at approximately $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Agree Realty Stock Performance

NYSE ADC opened at $74.45 on Monday. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $8.94 billion, a PE ratio of 40.24, a P/E/G ratio of 2.54 and a beta of 0.50. The company’s 50 day simple moving average is $77.29 and its two-hundred day simple moving average is $75.12.

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

Agree Realty Announces Dividend

The business also recently disclosed 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 is Friday, May 29th. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. Agree Realty’s dividend payout ratio (DPR) is 172.97%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 6th. Stifel Nicolaus raised their price objective on shares of Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada raised their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho lowered their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Institutional Investors Weigh In On Agree Realty

Several institutional investors have recently added to or reduced their stakes in ADC. Principal Financial Group Inc. boosted its position in Agree Realty by 80.8% during the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock valued at $309,266,000 after buying an additional 1,918,427 shares during the period. Norges Bank purchased a new stake in Agree Realty during the 4th quarter valued at $116,114,000. Engineers Gate Manager LP boosted its position in Agree Realty by 3,043.2% during the 4th quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after buying an additional 1,144,617 shares during the period. JPMorgan Chase & Co. boosted its position in Agree Realty by 41.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock valued at $204,813,000 after buying an additional 826,719 shares during the period. Finally, Cohen & Steers Inc. boosted its position in Agree Realty by 4.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after buying an additional 649,301 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Company Profile

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.