Agree Realty Corporation (NYSE:ADC) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is mildly bullish: Agree Realty has an average rating of “Moderate Buy” from 17 covering analysts, with 10 buy ratings and an average 12-month price target of $83.80.
• Recent earnings beat expectations: The REIT reported quarterly EPS of $0.50 versus the $0.47 consensus and revenue of $211.49 million, both above estimates, while revenue rose 18.7% year over year.
• Insiders have been buying shares: Chairman Richard Agree and Director Greg Lehmkuhl both made recent purchases, and insiders have bought 19,191 shares worth about $1.43 million over the last 90 days.

Shares of Agree Realty Corporation (NYSE:ADC - Get Free Report) have earned an average rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $83.80.

A number of equities research analysts have recently issued reports on ADC shares. Robert W. Baird upped their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Mizuho dropped their price objective on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Royal Bank Of Canada upped their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Finally, 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 report on Friday, April 17th.

Agree Realty Price Performance

Agree Realty stock opened at $73.82 on Thursday. Agree Realty has a 52-week low of $69.56 and a 52-week high of $82.08. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 2.51 and a beta of 0.48. The company has a fifty day simple moving average of $75.84 and a 200-day simple moving average of $75.26. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company's revenue for the quarter 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 anticipate that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Agree Realty's dividend payout ratio (DPR) is 172.97%.

Insiders Place Their Bets

In related news, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction 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 completion of the purchase, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. This represents a 2.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard Agree bought 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, with a total value of $357,050.00. Following the purchase, the chairman 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 SEC filing for this purchase provides additional information. Insiders purchased a total of 19,191 shares of company stock valued at $1,426,994 over the last 90 days. 1.80% of the stock is owned by company insiders.

Institutional Trading of Agree Realty

Several hedge funds have recently made changes to their positions in ADC. Principal Financial Group Inc. lifted its position in shares of Agree Realty by 80.8% during the fourth quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust's stock worth $309,266,000 after purchasing an additional 1,918,427 shares in the last quarter. Norges Bank acquired a new stake in shares of Agree Realty during the fourth quarter worth about $116,114,000. Engineers Gate Manager LP lifted its position in shares of Agree Realty by 3,043.2% during the fourth quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust's stock worth $85,156,000 after purchasing an additional 1,144,617 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Agree Realty by 41.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust's stock worth $204,813,000 after purchasing an additional 826,719 shares in the last quarter. Finally, Rush Island Management LP acquired a new stake in shares of Agree Realty during the first quarter worth about $51,065,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.