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

Agree Realty Corporation (NYSE:ADC) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $83.80.

A number of equities research analysts have weighed in on ADC shares. Barclays reduced their target price on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 19th. Truist Financial boosted their price target on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Royal Bank Of Canada raised 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. Raymond James Financial lifted their target price on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd.

Insider Buying and Selling

In related news, CEO Joey Agree bought 13,295 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the transaction, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at approximately $50,909,668.05. This represents a 2.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Greg Lehmkuhl bought 750 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the transaction, the director directly owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. This represents a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 19,045 shares of company stock worth $1,415,943 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Clearstead Trust LLC boosted its holdings in shares of 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 acquiring an additional 242 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in Agree Realty during the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV increased its holdings in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 192 shares in the last quarter. Clearstead Advisors LLC increased its holdings in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 285 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in Agree Realty by 178.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 350 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $77.87 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.35 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 2.59 and a beta of 0.47. The company has a 50 day moving average of $75.37 and a 200-day moving average of $75.67. Agree Realty has a 1-year low of $69.56 and a 1-year high of $82.08.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $195.73 million. During the same period last year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue 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. As a group, equities research analysts forecast that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.4%. 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.