Agree Realty (NYSE:ADC) CFO Buys $34,900.00 in Stock

Agree Realty Corporation (NYSE:ADC) CFO Peter Coughenour purchased 500 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was bought at an average price of $69.80 per share, with a total value of $34,900.00. Following the completion of the purchase, the chief financial officer owned 18,544 shares of the company’s stock, valued at approximately $1,294,371.20. This represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Agree Realty Stock Down 0.5%

Shares of ADC stock opened at $71.97 on Friday. Agree Realty Corporation has a 52-week low of $68.98 and a 52-week high of $79.65. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 2.25 and a beta of 0.55. The firm’s 50-day moving average is $72.79 and its 200-day moving average is $72.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The firm had revenue of $183.22 million for the quarter, compared to the consensus estimate of $181.87 million. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Sell-side analysts predict that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, January 30th. Agree Realty’s payout ratio is 183.63%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. KeyCorp upped their target price on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Mizuho dropped their price target on Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Finally, Stifel Nicolaus set a $83.50 price target on Agree Realty in a research note on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.23.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in shares of Agree Realty by 408.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 306 shares during the period. Westside Investment Management Inc. increased its position in shares of Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares during the period. Wiser Advisor Group LLC acquired a new position in Agree Realty in the third quarter valued at about $32,000. Cornerstone Planning Group LLC lifted its position in Agree Realty by 1,513.3% during the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 454 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Agree Realty by 158.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 356 shares during the period. 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.