Agree Realty (NYSE:ADC) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "Hold (C+)" rating for Agree Realty, indicating a cautious outlook on the stock's performance.
• UBS Group upgraded the company's price target to $82.00, while Evercore ISI set a higher target of $85.00, suggesting some positive sentiment among analysts.
• CEO Joey Agree and Director Greg Lehmkuhl have recently increased their holdings in the company, signaling confidence in its future performance amidst a backdrop of mixed analyst ratings.

Agree Realty (NYSE:ADC - Get Free Report)'s stock had its "hold (c+)" rating reiterated by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the company. UBS Group raised their price objective on Agree Realty from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen downgraded Agree Realty from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Evercore ISI lifted their price target on Agree Realty from $83.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. Truist Financial set a $84.00 price target on Agree Realty in a research note on Friday, August 8th. Finally, Mizuho decreased their price target on Agree Realty from $78.00 to $77.00 and set a "neutral" rating for the company in a research note on Thursday, September 11th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.63.

Agree Realty Trading Down 0.5%

Shares of ADC traded down $0.36 during trading hours on Wednesday, hitting $70.10. The stock had a trading volume of 150,986 shares, compared to its average volume of 1,131,253. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $7.76 billion, a P/E ratio of 41.73, a P/E/G ratio of 2.28 and a beta of 0.55. The company's fifty day simple moving average is $72.31 and its 200 day simple moving average is $73.79. 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 released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.The company had revenue of $175.53 million for the quarter, compared to analyst estimates of $173.95 million. During the same period last year, the company posted $1.04 earnings per share. The firm's revenue was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Equities research analysts forecast that Agree Realty will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joey Agree acquired 4,108 shares of the stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $72.15 per share, for a total transaction of $296,392.20. Following the transaction, the chief executive officer owned 633,060 shares in the company, valued at approximately $45,675,279. This trade represents a 0.65% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg Lehmkuhl acquired 750 shares of the stock in a transaction on 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 completion of the transaction, the director owned 27,684 shares in the company, valued at approximately $2,016,502.56. This represents a 2.78% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 11,588 shares of company stock worth $830,611. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Agree Realty

Institutional investors and hedge funds have recently modified their holdings of the stock. 1620 Investment Advisors Inc. boosted its holdings in Agree Realty by 8.3% in the third quarter. 1620 Investment Advisors Inc. now owns 9,464 shares of the real estate investment trust's stock worth $672,000 after purchasing an additional 725 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Agree Realty by 31.8% in the third quarter. Central Pacific Bank Trust Division now owns 2,904 shares of the real estate investment trust's stock worth $206,000 after purchasing an additional 700 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Agree Realty by 0.9% in the second quarter. Orion Porfolio Solutions LLC now owns 26,280 shares of the real estate investment trust's stock worth $1,920,000 after purchasing an additional 222 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Agree Realty by 69.5% in the second quarter. Squarepoint Ops LLC now owns 96,510 shares of the real estate investment trust's stock worth $7,051,000 after purchasing an additional 39,575 shares in the last quarter. Finally, TT Capital Management LLC bought a new stake in Agree Realty in the second quarter worth $236,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

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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