Agree Realty (NYSE:ADC) Insider Purchases $25,502.40 in Stock

Key Points

• Insider Trading: Agree Realty insider Craig Erlich purchased 360 shares at $70.84 each, totaling $25,502.40, increasing his ownership by 0.69% to 52,846 shares.
• Recent Earnings: The company reported a quarterly EPS of $1.06, beating estimates, with a revenue of $175.53 million—a 15% year-over-year increase.
• Dividend Announcement: Agree Realty declared a dividend of $0.256 per share, with a yield of 432.0%; the dividend will be paid on October 14th.

Agree Realty Corporation (NYSE:ADC - Get Free Report) insider Craig Erlich purchased 360 shares of the business's stock in a transaction on Friday, October 3rd. The stock was purchased at an average cost of $70.84 per share, with a total value of $25,502.40. Following the acquisition, the insider owned 52,846 shares in the company, valued at approximately $3,743,610.64. This represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $70.50 on Monday. The firm has a market cap of $7.80 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 2.29 and a beta of 0.55. The firm's 50-day simple moving average is $72.41 and its 200-day simple moving average is $73.85. Agree Realty Corporation has a twelve month low of $67.58 and a twelve month high of $79.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.01. The firm had revenue of $175.53 million during the quarter, compared to analysts' expectations of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, research analysts expect that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.256 per share. This represents a yield of 432.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Agree Realty's dividend payout ratio (DPR) is currently 182.74%.

Institutional Investors Weigh In On Agree Realty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nuveen LLC bought a new position in Agree Realty in the 1st quarter valued at about $64,759,000. Westwood Holdings Group Inc. acquired a new stake in shares of Agree Realty during the 2nd quarter valued at $65,376,000. Norges Bank bought a new stake in Agree Realty during the 2nd quarter worth $65,030,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Agree Realty in the 1st quarter worth about $41,114,000. Finally, Burkehill Global Management LP raised its position in Agree Realty by 450.0% in the first quarter. Burkehill Global Management LP now owns 550,000 shares of the real estate investment trust's stock valued at $42,454,000 after purchasing an additional 450,000 shares during the last quarter. Institutional investors own 97.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADC shares. Wall Street Zen lowered Agree Realty from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. UBS Group lifted their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. JMP Securities reiterated a "market perform" rating on shares of Agree Realty in a report on Monday, June 30th. Truist Financial set a $84.00 price objective on shares of Agree Realty in a report on Friday, August 8th. Finally, Evercore ISI boosted their price objective on shares of Agree Realty from $83.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Agree Realty has an average rating of "Moderate Buy" and a consensus target price of $80.63.

Agree Realty Company Profile

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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