Agree Realty (NYSE:ADC) CEO Joey Agree Buys 13,295 Shares

Key Points

• CEO Joey Agree bought 13,295 shares of Agree Realty stock at an average price of $75.41, spending about $1.0 million and increasing his ownership by 2.01% to 675,105 shares.
• The company recently beat earnings expectations, reporting $0.50 EPS versus $0.47 expected and revenue of $211.49 million, up 18.7% year over year.
• Agree Realty also announced a quarterly dividend of $0.267 per share, payable June 12, which annualizes to $1.07 and yields about 1.4%.

Agree Realty Corporation (NYSE:ADC - Get Free Report) CEO Joey Agree bought 13,295 shares of the company's stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the purchase, the chief executive officer owned 675,105 shares of the company's stock, valued at approximately $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Agree Realty Stock Down 0.0%

ADC opened at $74.45 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 2.54 and a beta of 0.50. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The company's 50-day moving average price is $77.29 and its two-hundred day moving average price is $75.12.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $211.49 million for the quarter, compared to analysts' expectations of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities analysts expect that Agree Realty Corporation will post 4.44 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.267 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, May 29th. Agree Realty's payout ratio is presently 172.97%.

Institutional Trading of Agree Realty

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC lifted its stake 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 worth $231,000 after purchasing an additional 145 shares in the last quarter. Evergreen Capital Management LLC lifted its stake 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 worth $430,000 after purchasing an additional 154 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its stake 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 worth $1,070,000 after purchasing an additional 154 shares in the last quarter. AE Wealth Management LLC lifted its stake 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 worth $331,000 after purchasing an additional 156 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake 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 worth $79,000 after purchasing an additional 171 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADC has been the topic of a number of recent research reports. Mizuho dropped 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 "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 6th. Morgan Stanley set a $81.00 price target on shares of Agree Realty in a research note on Tuesday, April 21st. Stifel Nicolaus upped their price target on shares of Agree Realty from $83.50 to $84.50 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Finally, Robert W. Baird upped their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty currently has an average rating of "Moderate Buy" and an average price target of $83.93.

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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