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

Agree Realty Corporation (NYSE:ADC) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $83.8125.

ADC has been the topic of a number of recent analyst reports. Mizuho decreased their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a research report on Friday, April 17th. Huntington assumed coverage on Agree Realty in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price target on the stock. Finally, Robert W. Baird increased their price target on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd.

Insider Buying and Selling at Agree Realty

In related news, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $75.09 per share, with a total value 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. This represents a 2.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joey Agree bought 13,295 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the purchase, the chief executive officer owned 675,105 shares of the company’s stock, valued at $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 19,045 shares of company stock valued at $1,415,943 over the last 90 days. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Agree Realty

Several large investors have recently made changes to their positions in ADC. Vanguard Group Inc. increased its holdings in Agree Realty by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after purchasing an additional 84,568 shares during the last quarter. Cohen & Steers Inc. lifted its stake in Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after purchasing an additional 649,301 shares in the last quarter. State Street Corp lifted its stake in Agree Realty by 1.6% during the fourth quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock worth $425,350,000 after purchasing an additional 91,766 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Agree Realty by 5.4% during the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock worth $341,180,000 after buying an additional 232,532 shares during the period. Finally, Centersquare Investment Management LLC boosted its position in shares of Agree Realty by 13.9% during the fourth quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock worth $237,639,000 after buying an additional 402,943 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Price Performance

Shares of ADC stock opened at $81.16 on Monday. 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 firm’s 50-day moving average is $75.64 and its two-hundred day moving average is $75.91. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. The company has a market capitalization of $9.75 billion, a PE ratio of 43.87, a price-to-earnings-growth ratio of 2.70 and a beta of 0.47.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating 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 company 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 EPS. Agree Realty’s 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. Analysts predict that Agree Realty will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.267 dividend. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, July 31st. Agree Realty’s payout ratio is 172.97%.

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.