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

Key Points

• Analyst sentiment is broadly positive on Agree Realty, with a consensus rating of “Moderate Buy” from 16 analysts. The average 12-month price target is about $83.79, above the stock’s recent price.
• Agree Realty beat first-quarter earnings and revenue expectations, reporting EPS of $0.50 versus $0.47 expected and revenue of $211.49 million versus $195.73 million estimated. Revenue also rose 18.7% year over year.
• Insider buying has been notable, with both Director Greg Lehmkuhl and CEO Joey Agree purchasing shares in May. The company also declared a quarterly dividend of $0.267 per share, implying a 1.4% annualized yield.

Agree Realty Corporation (NYSE:ADC - Get Free Report) has received an average rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $83.7857.

Several analysts recently weighed in on ADC shares. Weiss Ratings raised Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. Morgan Stanley set a $81.00 price target on Agree Realty in a report on Tuesday, April 21st. Stifel Nicolaus lifted their price target on Agree Realty from $83.50 to $84.50 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Finally, Truist Financial lifted their price target on Agree Realty from $79.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, March 23rd.

Agree Realty Stock Performance

Shares of NYSE ADC opened at $75.42 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. The stock has a 50 day moving average of $76.78 and a 200-day moving average of $75.19. The company has a market capitalization of $9.06 billion, a P/E ratio of 40.77, a P/E/G ratio of 2.54 and a beta of 0.50.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same period in the previous year, the company posted $0.42 EPS. The firm'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. As a group, equities research analysts predict that Agree Realty will post 4.44 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued 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 Friday, May 29th. Agree Realty's dividend payout ratio (DPR) is presently 172.97%.

Insider Activity at Agree Realty

In other news, Director Greg Lehmkuhl purchased 750 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $75.09 per share, with a total value of $56,317.50. Following the acquisition, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. This trade represents a 2.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joey Agree purchased 13,295 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, 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 position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 14,191 shares of company stock valued at $1,069,944. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agree Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its holdings in Agree Realty by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 145 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in Agree Realty by 2.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust's stock valued at $430,000 after acquiring an additional 154 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in Agree Realty by 1.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust's stock valued at $1,070,000 after acquiring an additional 154 shares in the last quarter. AE Wealth Management LLC raised its holdings in Agree Realty by 3.5% in the 3rd quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust's stock valued at $331,000 after acquiring an additional 156 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 171 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

About Agree Realty

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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