Agree Realty (NYSE:ADC) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Agree Realty (NYSE:ADC) from a sell rating to a hold rating in a research report released on Saturday.

Other analysts also recently issued research reports about the company. Huntington started coverage on Agree Realty in a research report on Wednesday. They issued an “outperform” rating and a $84.00 target price on the stock. Jefferies Financial Group began coverage on Agree Realty in a research report on Monday, June 1st. They set a “buy” rating and a $84.00 price target for the company. Royal Bank Of Canada raised their price target on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Mizuho lowered their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Robert W. Baird upped their price objective on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.81.

Agree Realty Stock Performance

Shares of ADC stock opened at $81.16 on Friday. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. The company’s fifty day simple moving average is $75.64 and its 200-day simple moving average is $75.89. The firm has a market cap of $9.75 billion, a PE ratio of 43.87, a P/E/G ratio of 2.70 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating 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 business had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’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. Equities research analysts expect that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid 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 dividend payout ratio (DPR) is 172.97%.

Insider Buying and Selling

In other Agree Realty news, CEO Joey Agree purchased 13,295 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the transaction, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard Agree acquired 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the purchase, the chairman directly owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 19,045 shares of company stock worth $1,415,943. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

A number of large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Agree Realty by 80.8% in the fourth 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 period. Norges Bank bought a new stake in shares of Agree Realty during the 4th quarter worth about $116,114,000. Engineers Gate Manager LP boosted its holdings in shares of 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 worth $85,156,000 after buying an additional 1,144,617 shares during the period. JPMorgan Chase & Co. grew its stake in Agree Realty by 41.0% in 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 last quarter. Finally, Rush Island Management LP acquired a new position in Agree Realty in the 1st quarter valued at about $51,065,000. Institutional investors own 97.83% of the company’s stock.

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.