Analysts Set Agree Realty Corporation (NYSE:ADC) Price Target at $83.21

Shares of Agree Realty Corporation (NYSE:ADC) have received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $83.2083.

ADC has been the topic of several recent research reports. UBS Group upped their price objective on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Wall Street Zen raised Agree Realty from a “sell” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus upped their price objective on Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Truist Financial upped their price objective on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Finally, Royal Bank Of Canada upped their price objective on Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th.

Insider Buying and Selling at Agree Realty

In related news, Chairman Richard Agree purchased 24,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the acquisition, the chairman owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This represents a 17.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Coughenour purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price of $69.80 per share, for a total transaction of $34,900.00. Following the acquisition, the chief financial officer directly owned 18,544 shares in the company, valued at $1,294,371.20. This trade represents a 2.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 24,646 shares of company stock worth $1,742,031 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Agree Realty

Several hedge funds and other institutional investors have recently bought and sold shares of ADC. Clearstead Trust LLC raised its holdings 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 valued at $27,000 after buying an additional 242 shares during the period. Westside Investment Management Inc. raised its holdings 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 valued at $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 valued at $32,000. Creative Financial Designs Inc. ADV raised its holdings 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 valued at $33,000 after buying an additional 192 shares during the period. Finally, Clearstead Advisors LLC raised its holdings 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 valued at $33,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Down 1.4%

Shares of ADC opened at $75.57 on Friday. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 42.69, a price-to-earnings-growth ratio of 2.58 and a beta of 0.53. Agree Realty has a 1 year low of $68.98 and a 1 year high of $82.08. The business’s 50 day simple moving average is $77.13 and its 200-day simple moving average is $74.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.262 per share. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, March 31st. Agree Realty’s dividend payout ratio is presently 177.40%.

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.