Brokerages Set Agree Realty Corporation (NYSE:ADC) PT at $83.80

Shares of Agree Realty Corporation (NYSE:ADC) have been given a consensus rating of “Moderate Buy” by the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $83.80.

ADC has been the subject of a number of analyst reports. Mizuho decreased their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Citigroup upped their target price on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a report on Friday, April 24th. Barclays reduced their price target on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, May 19th. Jefferies Financial Group initiated coverage on Agree Realty in a research report on Monday, June 1st. They set a “buy” rating and a $84.00 price target on the stock. Finally, Royal Bank Of Canada upped their price objective on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd.

Insider Buying and Selling at Agree Realty

In related news, Chairman Richard Agree acquired 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, with a total value of $357,050.00. Following the completion of the transaction, the chairman directly owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of the business’s stock in a transaction dated 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 purchase, the director owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 19,191 shares of company stock valued at $1,426,994 in the last quarter. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC grew its position in shares of Agree Realty by 268.9% in the first quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock valued at $2,112,000 after purchasing an additional 19,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 356 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Agree Realty in the 2nd quarter valued at $1,875,000. EverSource Wealth Advisors LLC grew its holdings in Agree Realty by 245.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 965 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Agree Realty by 46.8% during the 2nd quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust’s stock worth $5,421,000 after buying an additional 23,662 shares during the period. 97.83% of the stock is owned by institutional investors.

Agree Realty Trading Up 0.2%

Shares of Agree Realty stock opened at $73.36 on Thursday. Agree Realty has a 12-month low of $69.56 and a 12-month high of $82.08. The stock has a market cap of $8.81 billion, a P/E ratio of 39.66, a P/E/G ratio of 2.46 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $75.61 and its 200-day moving average is $75.23.

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 the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Equities research analysts predict that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.267 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.5%. Agree Realty’s payout ratio is presently 172.97%.

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.