Agree Realty Corporation (NYSE:ADC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Agree Realty Corporation (NYSE:ADC) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $83.9375.

A number of equities analysts have commented on ADC shares. Jefferies Financial Group started coverage on shares of Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price for the company. Citigroup raised their price target on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a report on Friday, April 24th. Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research report on Tuesday, April 21st. BMO Capital Markets lowered shares of 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. Finally, Barclays increased their target price on shares of Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd.

Agree Realty Stock Up 1.0%

Shares of NYSE ADC opened at $75.09 on Friday. Agree Realty has a 12-month low of $69.56 and a 12-month high of $82.08. The stock’s fifty day simple moving average is $76.81 and its two-hundred day simple moving average is $76.70. The stock has a market capitalization of $9.34 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 2.43 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last released its quarterly 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 the consensus estimate of $204.53 million. During the same period in the previous year, the firm posted $1.06 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, analysts expect that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.267 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Agree Realty’s dividend payout ratio is presently 172.04%.

Insider Activity at Agree Realty

In other Agree Realty news, Chairman Richard Agree acquired 5,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $71.41 per share, with a total value of $357,050.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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 the business. Private Advisor Group LLC boosted its holdings in Agree Realty by 5.0% in the first quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 145 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Agree Realty by 2.7% during 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 acquiring an additional 154 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of Agree Realty by 1.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock valued at $1,070,000 after purchasing an additional 154 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Agree Realty by 0.9% in the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 171 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Agree Realty by 2.7% in the 4th quarter. Fifth Third Bancorp now owns 6,778 shares of the real estate investment trust’s stock valued at $488,000 after purchasing an additional 176 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

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.