Agree Realty (NYSE:ADC) Upgraded by Jefferies Financial Group to “Strong-Buy” Rating

Jefferies Financial Group upgraded shares of Agree Realty (NYSE:ADC) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Robert W. Baird boosted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. UBS Group upped their price objective on shares of Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research report on Tuesday, April 21st. Finally, Raymond James Financial upped their price objective on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.80.

Agree Realty Trading Down 2.2%

NYSE ADC opened at $72.54 on Monday. The company has a market capitalization of $8.71 billion, a PE ratio of 39.21, a P/E/G ratio of 2.49 and a beta of 0.48. The company has a fifty day moving average of $76.19 and a 200 day moving average of $75.27. Agree Realty has a 1 year low of $69.56 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Agree Realty (NYSE:ADC) last posted its earnings results 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. The company had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Research analysts forecast that Agree Realty will post 4.44 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, May 29th. Agree Realty’s dividend payout ratio is 172.97%.

Insider Activity

In other Agree Realty news, Director Greg Lehmkuhl acquired 750 shares of the company’s stock in a transaction that occurred on 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 purchase, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joey Agree acquired 13,295 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the purchase, the chief executive officer owned 675,105 shares in the company, valued at $50,909,668.05. This represents a 2.01% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 14,191 shares of company stock valued at $1,069,944. Insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Agree Realty by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after buying an additional 84,568 shares during the period. Cohen & Steers Inc. grew its stake in shares of Agree Realty by 4.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after buying an additional 649,301 shares during the period. State Street Corp grew its stake in shares of Agree Realty by 1.6% in the 4th quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock valued at $425,350,000 after buying an additional 91,766 shares during the period. Principal Financial Group Inc. grew its stake in shares of Agree Realty by 5.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock valued at $341,180,000 after buying an additional 232,532 shares during the period. Finally, Centersquare Investment Management LLC grew its stake in shares of Agree Realty by 13.9% in the 4th quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock valued at $237,639,000 after buying an additional 402,943 shares during the period. Hedge funds and other 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.