Analysts Set Agree Realty Corporation (NYSE:ADC) Target Price at $80.58

Key Points

• Agree Realty Corporation (NYSE:ADC) has received a consensus rating of "Moderate Buy" from 15 brokerages, with an average 1-year price objective of approximately $80.58.
• The company recently reported an EPS of $1.06 for the last quarter, exceeding expectations, with a revenue of $175.53 million, marking a 15% year-over-year increase.
• Agree Realty will pay a dividend of $0.256 per share on October 14th, with a current dividend yield of 430.0%.

Shares of Agree Realty Corporation (NYSE:ADC - Get Free Report) have received a consensus rating of "Moderate Buy" from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $80.5769.

ADC has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Truist Financial set a $84.00 price target on shares of Agree Realty in a report on Friday, August 8th. Barclays reduced their price target on shares of Agree Realty from $78.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, August 20th. Mizuho reduced their price objective on shares of Agree Realty from $78.00 to $77.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. Finally, JMP Securities reiterated a "market perform" rating on shares of Agree Realty in a report on Monday, June 30th.

Insider Activity

In other news, Director Greg Lehmkuhl acquired 750 shares of Agree Realty stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $72.84 per share, with a total value of $54,630.00. Following the completion of the purchase, the director owned 27,684 shares in the company, valued at approximately $2,016,502.56. The trade was a 2.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joey Agree purchased 2,100 shares of the business's stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $72.08 per share, with a total value of $151,368.00. Following the purchase, the chief executive officer owned 635,160 shares in the company, valued at approximately $45,782,332.80. This represents a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 7,700 shares of company stock worth $555,926. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Agree Realty

A number of institutional investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new stake in Agree Realty during the 1st quarter valued at $27,000. Farther Finance Advisors LLC lifted its position in shares of Agree Realty by 408.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 306 shares during the period. Bernard Wealth Management Corp. purchased a new stake in shares of Agree Realty in the 4th quarter worth about $31,000. SVB Wealth LLC purchased a new stake in shares of Agree Realty in the 1st quarter worth about $33,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of 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 worth $36,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

Shares of ADC stock traded down $0.28 on Tuesday, reaching $71.25. The stock had a trading volume of 1,249,548 shares, compared to its average volume of 878,922. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The firm's 50-day moving average is $72.76 and its two-hundred day moving average is $74.24. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 42.41, a P/E/G ratio of 2.39 and a beta of 0.56. Agree Realty has a 12 month low of $67.58 and a 12 month high of $79.65.

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

Agree Realty Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.256 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a yield of 430.0%. Agree Realty's payout ratio is currently 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.