Agree Realty (NYSE:ADC) Director John Rakolta, Jr. Purchases 20,000 Shares

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. bought 20,000 shares of Agree Realty stock in a transaction dated Thursday, August 27th. The shares were acquired at an average cost of $73.23 per share, for a total transaction of $1,464,600.00. Following the completion of the purchase, the director directly owned 622,061 shares of the company’s stock, valued at approximately $45,553,527.03. This trade represents a 3.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Agree Realty Stock Performance

NYSE:ADC opened at $73.21 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $76.77 and its 200 day simple moving average is $76.78. The stock has a market cap of $9.11 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08.

Agree Realty (NYSE:ADC) last posted 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 during the quarter, compared to analysts’ expectations of $204.53 million. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current 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 given a dividend of $0.267 per share. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 31st. Agree Realty’s payout ratio is presently 172.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Mizuho lowered their target price on Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Robert W. Baird set a $83.00 price objective on Agree Realty in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. 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. Finally, Barclays boosted their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $83.94.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds have recently bought and sold shares of ADC. BlackRock Inc. purchased a new position in Agree Realty in the second quarter worth about $1,447,551,000. California State Teachers Retirement System increased its position in shares of Agree Realty by 7,473.6% during the second quarter. California State Teachers Retirement System now owns 10,617,309 shares of the real estate investment trust’s stock valued at $804,155,000 after acquiring an additional 10,477,120 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 1,918,427 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Agree Realty during the second quarter valued at $130,921,000. Finally, Norges Bank bought a new stake in Agree Realty in the 4th quarter worth about $116,114,000. 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.