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

Agree Realty Corporation (NYSE:ADC) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $82.81.

Several equities research analysts recently commented 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, August 1st. Robert W. Baird set a $83.00 price objective on Agree Realty in a report on Friday, July 31st. Huntington began coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price for the company. Stifel Nicolaus cut their target price on Agree Realty from $84.00 to $81.50 and set a “buy” rating on the stock in a report on Friday, September 18th. Finally, Mizuho reduced their price target on Agree Realty from $80.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th.

Insider Activity at Agree Realty

In other news, CEO Joey Agree acquired 7,360 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was purchased at an average price of $68.06 per share, for a total transaction of $500,921.60. Following the completion of the acquisition, the chief executive officer directly owned 682,465 shares in the company, valued at $46,448,567.90. The trade was a 1.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Craig Erlich acquired 1,000 shares of Agree Realty stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of $67.55 per share, with a total value of $67,550.00. Following the completion of the transaction, the insider directly owned 60,388 shares in the company, valued at $4,079,209.40. This represents a 1.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 48,496 shares of company stock worth $3,418,670 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

A number of hedge funds have recently made changes to their positions in ADC. CX Institutional boosted its stake in Agree Realty by 852.2% during the 3rd quarter. CX Institutional now owns 438 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 392 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Agree Realty by 16.6% in the second quarter. QRG Capital Management Inc. now owns 4,809 shares of the real estate investment trust’s stock worth $364,000 after purchasing an additional 685 shares during the last quarter. Community Bank of Raymore raised its stake in shares of Agree Realty by 11.5% in the second quarter. Community Bank of Raymore now owns 44,624 shares of the real estate investment trust’s stock worth $3,380,000 after purchasing an additional 4,600 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Agree Realty during the second quarter valued at $51,000. Finally, NewEdge Advisors LLC increased its holdings in Agree Realty by 2,367.6% in the 2nd quarter. NewEdge Advisors LLC now owns 2,739 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 2,628 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Stock Performance

Agree Realty stock opened at $65.86 on Friday. Agree Realty has a 12-month low of $64.98 and a 12-month high of $82.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $72.61 and its two-hundred day moving average price is $75.09. The stock has a market cap of $8.19 billion, a PE ratio of 35.41, a P/E/G ratio of 2.18 and a beta of 0.42.

Agree Realty (NYSE:ADC) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The company had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. 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 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.2670 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 4.9%. Agree Realty’s dividend payout ratio is 172.04%.

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) that owns, develops, acquires and manages retail properties leased primarily under long-term, single-tenant net lease agreements. Under these arrangements, tenants generally assume responsibility for property-level expenses such as taxes, insurance and maintenance.

The company focuses on necessity-based retail properties, including locations occupied by grocery stores, home improvement retailers, discount retailers, pharmacies and other service-oriented businesses.