Agree Realty Corporation (NYSE:ADC) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Agree Realty Corporation (NYSE:ADC) received an average rating of "Moderate Buy" from 15 brokerages, with 7 analysts recommending a hold and 8 recommending a buy.
• The stock's target price among analysts is set at $80.6250, with notable recommendations including UBS Group raising their target to $82.00.
• CEO Joey Agree recently purchased 3,528 shares at an average price of $70.63, increasing his ownership stake and further indicating confidence in the company's performance.

Shares of Agree Realty Corporation (NYSE:ADC - Get Free Report) have been given an average rating of "Moderate Buy" by the fifteen brokerages that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $80.6250.

Several analysts recently weighed in on ADC shares. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. UBS Group lifted their price target on Agree Realty from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Mizuho dropped their price target on Agree Realty from $78.00 to $77.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. Barclays dropped their price target on Agree Realty from $78.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, August 20th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Agree Realty in a report on Wednesday.

Insider Transactions at Agree Realty

In related news, CEO Joey Agree acquired 3,528 shares of the stock in a transaction on Thursday, October 2nd. The shares were purchased at an average price of $70.63 per share, for a total transaction of $249,182.64. Following the purchase, the chief executive officer directly owned 638,688 shares in the company, valued at approximately $45,110,533.44. The trade was a 0.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg Lehmkuhl acquired 750 shares of the stock in a transaction on Friday, September 5th. The shares were bought at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the purchase, the director owned 27,684 shares in the company, valued at approximately $2,016,502.56. This trade represents a 2.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 36,742 shares of company stock valued at $2,601,704. 1.80% of the stock is currently owned by company insiders.

Hedge Funds 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 Agree Realty during the 1st quarter worth $27,000. Farther Finance Advisors LLC increased its stake in 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 worth $28,000 after acquiring an additional 306 shares during the period. SVB Wealth LLC bought a new position in Agree Realty during the 1st quarter worth $33,000. Capital Advisors Ltd. LLC increased its stake in Agree Realty by 137.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 270 shares during the period. Finally, NBC Securities Inc. bought a new position in Agree Realty during the 1st quarter worth $39,000. Institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

ADC opened at $72.09 on Friday. Agree Realty has a 12-month low of $67.58 and a 12-month high of $79.65. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 2.30 and a beta of 0.55. The business has a 50 day moving average of $72.20 and a 200-day moving average of $73.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59.

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

Agree Realty Dividend Announcement

The company also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.256 per share. This represents a yield of 432.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Agree Realty's dividend payout ratio (DPR) is presently 182.74%.

Agree Realty Company Profile

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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