Barclays Has Lowered Expectations for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its price target dropped by analysts at Barclays from $86.00 to $84.00 in a research note issued on Tuesday, MarketBeat.com reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 10.89% from the stock’s previous close.

ADC has been the subject of a number of other research reports. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Morgan Stanley set a $81.00 price target on Agree Realty in a report on Tuesday, April 21st. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective for the company. in a research note on Friday, April 17th. Truist Financial raised their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Finally, Mizuho cut their target price on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.79.

Agree Realty Stock Performance

NYSE ADC opened at $75.75 on Tuesday. The firm’s fifty day moving average price is $77.18 and its two-hundred day moving average price is $75.14. The stock has a market cap of $9.10 billion, a PE ratio of 40.95, a PEG ratio of 2.54 and a beta of 0.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Agree Realty has a fifty-two week low of $69.56 and a fifty-two week high of $82.08.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. During the same period in the prior year, the company earned $0.42 EPS. Agree Realty’s 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. On average, equities analysts expect that Agree Realty will post 4.44 EPS for the current fiscal year.

Insider Activity

In related news, Director Greg Lehmkuhl purchased 750 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the purchase, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joey Agree acquired 13,295 shares of the stock in a transaction dated Thursday, May 14th. The shares were bought 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 of the company’s stock, valued at $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 14,191 shares of company stock valued at $1,069,944. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADC. Private Advisor Group LLC lifted its position in shares of Agree Realty by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 145 shares during the period. Evergreen Capital Management LLC lifted its stake in Agree Realty by 2.7% in the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock valued at $430,000 after buying an additional 154 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in shares of Agree Realty by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 154 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of Agree Realty by 3.5% during the 3rd quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 156 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Agree Realty by 18.2% during the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 171 shares during the period. 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.