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

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 earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $80.5769.

Several brokerages have commented on ADC. Truist Financial set a $84.00 price target on shares of Agree Realty in a report on Friday, August 8th. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a report on Monday, June 30th. Evercore ISI raised their price target on shares of Agree Realty from $83.00 to $85.00 and gave the company an "outperform" rating in a report on Monday. Barclays cut 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. Finally, Mizuho cut their price target 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.

Agree Realty Stock Down 0.2%

ADC opened at $72.92 on Tuesday. The company has a 50 day moving average of $72.72 and a 200 day moving average of $74.31. The company has a market cap of $8.07 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 2.44 and a beta of 0.56. Agree Realty has a 12 month low of $67.58 and a 12 month high of $79.65. The company has a current ratio of 0.71, a quick 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 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. The company had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. Agree Realty's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, sell-side analysts expect that Agree Realty will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.256 per share. The ex-dividend date is Tuesday, September 30th. This represents a dividend yield of 430.0%. Agree Realty's dividend payout ratio (DPR) is 182.74%.

Insider Buying and Selling at Agree Realty

In related news, Director Greg Lehmkuhl acquired 750 shares of the stock in a transaction dated Friday, September 5th. The shares were purchased at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the transaction, the director owned 27,684 shares in the company, valued at $2,016,502.56. This represents a 2.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joey Agree acquired 2,100 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $72.08 per share, for a total transaction of $151,368.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 7,700 shares of company stock worth $555,926. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Agree Realty

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC raised its position in shares of Agree Realty by 0.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 26,280 shares of the real estate investment trust's stock valued at $1,920,000 after buying an additional 222 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Agree Realty by 69.5% during the 2nd quarter. Squarepoint Ops LLC now owns 96,510 shares of the real estate investment trust's stock valued at $7,051,000 after buying an additional 39,575 shares in the last quarter. TT Capital Management LLC purchased a new position in Agree Realty in the 2nd quarter worth $236,000. Pathway Financial Advisers LLC raised its position in Agree Realty by 3.8% in the 2nd quarter. Pathway Financial Advisers LLC now owns 17,784 shares of the real estate investment trust's stock worth $1,299,000 after purchasing an additional 645 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new position in Agree Realty in the 2nd quarter worth $65,376,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

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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