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

Key Points

• Agree Realty has a consensus analyst rating of “Moderate Buy” from 15 brokerages, with an average 1-year price target of $83.80.
• The company reported strong quarterly results, posting $0.50 EPS versus the expected $0.47 and revenue of $211.49 million, while revenue rose 18.7% year over year.
• Insiders have been buying shares, including Chairman Richard Agree and CEO Joey Agree, and the company also announced a quarterly dividend of $0.267 per share payable on July 15.

Shares of Agree Realty Corporation (NYSE:ADC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $83.80.

Several research firms recently weighed in on ADC. Royal Bank Of Canada lifted their price target on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. BMO Capital Markets lowered Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price objective on the stock. in a report on Friday, April 17th. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Truist Financial lifted their target price on Agree Realty from $79.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Finally, Mizuho reduced their target price on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th.

Insider Buying and Selling at Agree Realty

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

Hedge Funds Weigh In On Agree Realty

A number of hedge funds have recently added to or reduced their stakes in the stock. Clearstead Trust LLC raised its holdings in Agree Realty by 192.1% in the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 242 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Agree Realty during the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 192 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Agree Realty by 163.8% in the fourth 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 during the period. Finally, Capital Advisors Ltd. LLC increased its position in shares of Agree Realty by 178.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 350 shares during the period. Institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

NYSE ADC opened at $77.87 on Monday. The stock has a market cap of $9.35 billion, a PE ratio of 42.09, a P/E/G ratio of 2.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50-day moving average of $75.37 and a 200-day moving average of $75.67. Agree Realty has a 52-week low of $69.56 and a 52-week high of $82.08.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same quarter in the prior year, the business earned $0.42 EPS. Agree Realty's quarterly revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, sell-side analysts anticipate that Agree Realty will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.267 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty's payout ratio is 172.97%.

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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