Agree Realty (NYSE:ADC) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Agree Realty (NYSE:ADC) from a hold rating to a sell rating in a research note released on Saturday.

ADC has been the topic of a number of other reports. Mizuho reduced their price target on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a report on Friday. 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 report on Wednesday, April 22nd. Jefferies Financial Group assumed coverage on Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price on the stock. Finally, Weiss Ratings raised Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $83.94.

Agree Realty Trading Down 1.0%

Agree Realty stock opened at $77.05 on Friday. The stock has a market cap of $9.25 billion, a P/E ratio of 41.43, a PEG ratio of 2.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82. Agree Realty has a 1 year low of $69.56 and a 1 year high of $82.08. The firm’s 50 day moving average price is $76.55 and its 200-day moving average price is $76.55.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. During the same period last year, the firm posted $1.06 EPS. Agree Realty’s quarterly revenue was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, equities analysts predict that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.267 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is 172.04%.

Insider Buying and Selling

In other Agree Realty news, Chairman Richard Agree acquired 5,000 shares of the stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $71.41 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Lehmkuhl acquired 750 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $75.09 per share, with a total value of $56,317.50. Following the completion of the purchase, the director directly owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 19,045 shares of company stock worth $1,415,943. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Agree Realty by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after acquiring an additional 84,568 shares during the last quarter. Cohen & Steers Inc. lifted 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 purchasing an additional 649,301 shares during the last quarter. State Street Corp boosted its holdings 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 worth $425,350,000 after purchasing an additional 91,766 shares during the period. Principal Financial Group Inc. boosted its holdings 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 worth $341,180,000 after purchasing an additional 232,532 shares during the period. Finally, Centersquare Investment Management LLC boosted its holdings 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 worth $237,639,000 after purchasing an additional 402,943 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.