Agree Realty (NYSE:ADC) Announces Quarterly Earnings Results

Key Points

• Agree Realty missed earnings expectations: The REIT reported quarterly EPS of $0.44, below the $0.48 consensus, while revenue of $216.33 million exceeded estimates of $204.53 million. Full-year 2026 EPS guidance was updated to $4.57–$4.59.
• Shares declined 2.6% to $78.32 following the results, though analysts maintain a “Moderate Buy” consensus rating with an average price target of $83.88.
• The company declared a monthly dividend of $0.267 per share, implying an annualized yield of approximately 4.1%. Insiders also purchased 19,045 shares worth about $1.42 million over the past 90 days.

Agree Realty (NYSE:ADC - Get Free Report) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04), FiscalAI reports. The firm had revenue of $216.33 million during the quarter, compared to analysts' expectations of $204.53 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty updated its FY 2026 guidance to 4.570-4.590 EPS.

Agree Realty Trading Down 2.6%

NYSE ADC traded down $2.07 during trading on Thursday, hitting $78.32. The stock had a trading volume of 1,206,439 shares, compared to its average volume of 1,230,584. The firm has a 50 day moving average price of $76.42 and a 200 day moving average price of $76.41. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty has a twelve month low of $69.56 and a twelve month high of $82.08. The company has a market capitalization of $9.41 billion, a PE ratio of 42.34, a PEG ratio of 2.70 and a beta of 0.47.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.267 per share. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, July 31st. Agree Realty's dividend payout ratio (DPR) is 172.97%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADC. Morgan Stanley set a $81.00 target price on Agree Realty in a research note on Tuesday, April 21st. Citigroup increased their target price on shares of Agree Realty from $77.00 to $82.50 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Mizuho reduced their price target on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. Finally, Huntington started coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.88.

Insiders Place Their Bets

In related news, CEO Joey Agree acquired 13,295 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were 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. The trade was a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard Agree acquired 5,000 shares of Agree Realty stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the purchase, the chairman owned 90,512 shares of the company's stock, valued at approximately $6,463,461.92. This represents a 5.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 19,045 shares of company stock worth $1,415,943 in the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Agree Realty

Large investors have recently bought and sold shares of the stock. Wiser Advisor Group LLC purchased a new position in shares of Agree Realty in the 3rd quarter valued at about $32,000. Transamerica Financial Advisors LLC raised its holdings in Agree Realty by 214.4% in the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 373 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 356 shares during the last quarter. Advisory Services Network LLC purchased a new position in Agree Realty in the third quarter worth approximately $59,000. Finally, Danske Bank A S acquired a new position in Agree Realty during the 3rd quarter worth approximately $64,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

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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