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

Key Points

• Agree Realty Corporation has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target set at $80.50.
• CEO Joey Agree purchased 2,100 shares of the company's stock at an average price of $72.08, raising his ownership to over 635,000 shares.
• The company announced a monthly dividend of $0.256 per share, with a 4.2% yield and a payout ratio of 182.74%.

Agree Realty Corporation (NYSE:ADC - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fifteen analysts that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $80.50.

ADC has been the topic of several recent analyst reports. Morgan Stanley cut shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price target on the stock. in a report on Friday, July 11th. UBS Group lifted their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. JMP Securities reaffirmed a "market perform" rating on shares of Agree Realty in a research note on Monday, June 30th. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Finally, Truist Financial set a $84.00 price objective on Agree Realty in a research report on Friday, August 8th.

Insider Buying and Selling

In other Agree Realty news, CEO Joey Agree acquired 2,100 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $72.08 per share, with a total value of $151,368.00. Following the completion of the purchase, the chief executive officer directly owned 635,160 shares of the company's stock, valued at approximately $45,782,332.80. The trade was a 0.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 6,950 shares of company stock worth $501,296 over the last 90 days. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Agree Realty

Hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. bought a new position in shares of Agree Realty during the 1st quarter valued at $27,000. Farther Finance Advisors LLC raised its position in shares of Agree Realty by 408.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 306 shares during the period. Bernard Wealth Management Corp. bought a new stake in Agree Realty during the 4th quarter valued at approximately $31,000. SVB Wealth LLC bought a new stake in shares of Agree Realty during the first quarter valued at approximately $33,000. Finally, Capital Advisors Ltd. LLC increased its holdings in Agree Realty by 137.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $73.9330 on Friday. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 2.40 and a beta of 0.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. Agree Realty has a one year low of $67.58 and a one year high of $79.65. The company's fifty day moving average price is $73.14 and its 200-day moving average price is $74.26.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company had revenue of $175.53 million for the quarter, compared to analyst estimates of $173.95 million. During the same quarter last year, the firm earned $1.04 EPS. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, equities research analysts anticipate that Agree Realty will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.256 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty's payout ratio is presently 182.74%.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.

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