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

Agree Realty Corporation (NYSE:ADC - Get Free Report) has been given an average rating of "Moderate Buy" by the sixteen research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $83.9375.

ADC has been the subject of several research analyst reports. Weiss Ratings raised Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Citigroup upped their price target on shares of Agree Realty from $77.00 to $82.50 and gave the company a "neutral" rating in a research report on Friday, April 24th. BMO Capital Markets cut shares of Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price target for the company. in a research note on Friday, April 17th. Mizuho lowered their price objective on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Finally, Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a research report on Friday, July 31st.

Insider Buying and Selling

In related news, Chairman Richard Agree purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the transaction, the chairman directly owned 90,512 shares of the company's stock, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joey Agree acquired 13,295 shares of Agree Realty stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the purchase, the chief executive officer owned 675,105 shares in the company, valued at $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 19,045 shares of company stock valued at $1,415,943 over the last quarter. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Agree Realty

Institutional investors have recently added to or reduced their stakes in the business. Clearstead Trust LLC boosted its stake in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 242 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in Agree Realty in the third quarter valued at $32,000. Creative Financial Designs Inc. ADV lifted its holdings in Agree Realty by 71.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 192 shares during the period. Clearstead Advisors LLC boosted its position in shares of Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 285 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in shares of Agree Realty by 214.4% during the 4th quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

Shares of ADC stock opened at $76.37 on Friday. The stock's 50-day moving average is $76.63 and its two-hundred day moving average is $76.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. Agree Realty has a 1 year low of $69.56 and a 1 year high of $82.08. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 41.06, a PEG ratio of 2.49 and a beta of 0.47.

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

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.267 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.2%. Agree Realty's dividend payout ratio is 172.04%.

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.

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