Insider Buying: Agree Realty (NYSE:ADC) Director Purchases 750 Shares of Stock

Agree Realty Corporation (NYSE:ADC) Director Greg Lehmkuhl purchased 750 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the transaction, the director directly owned 34,465 shares of the company’s stock, valued at $2,587,976.85. The trade was a 2.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Agree Realty Stock Performance

ADC opened at $74.45 on Monday. The firm has a market capitalization of $8.94 billion, a PE ratio of 40.24, a PEG ratio of 2.54 and a beta of 0.50. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The firm’s 50-day moving average price is $77.29 and its 200 day moving average price is $75.12. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

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

Agree Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid 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 yield of 1.4%. Agree Realty’s payout ratio is 172.97%.

Institutional Investors Weigh In On Agree Realty

Several large investors have recently added to or reduced their stakes in ADC. Clearstead Trust LLC increased its stake in Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 242 shares during the period. Westside Investment Management Inc. increased its stake in Agree Realty by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 215 shares during the period. Wiser Advisor Group LLC purchased a new stake in Agree Realty during the 3rd quarter worth approximately $32,000. Creative Financial Designs Inc. ADV increased its stake in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 192 shares during the period. Finally, Clearstead Advisors LLC increased its stake in Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 285 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a research note on Tuesday, April 21st. Royal Bank Of Canada lifted their target price on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Truist Financial lifted their target price on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings raised shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.