Agree Realty (NYSE:ADC) Issues FY 2025 Earnings Guidance

Key Points

• Agree Realty has issued its FY 2025 earnings guidance, projecting EPS between 4.310 and 4.330, significantly above the consensus estimate of 2.760.
• The company also reported an increase in its monthly dividend to $0.262 per share, with a dividend yield of 4.2%.
• Insider transactions have been notable, with CEO Joey Agree purchasing an additional 3,528 shares at $70.63 per share, increasing his ownership stake in the company.

Agree Realty (NYSE:ADC - Get Free Report) updated its FY 2025 earnings guidance on Tuesday. The company provided EPS guidance of 4.310-4.330 for the period, compared to the consensus EPS estimate of 2.760. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

ADC has been the subject of a number of research reports. Truist Financial set a $84.00 price target on shares of Agree Realty in a research report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Agree Realty in a report on Wednesday, October 8th. Evercore ISI boosted their price target on Agree Realty from $83.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Wall Street Zen downgraded Agree Realty from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, Morgan Stanley downgraded Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price target for the company. in a report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of "Moderate Buy" and an average target price of $80.63.

Agree Realty Trading Down 1.1%

Shares of ADC stock traded down $0.81 on Tuesday, reaching $74.95. 1,538,306 shares of the stock were exchanged, compared to its average volume of 1,140,778. The stock has a market cap of $8.29 billion, a P/E ratio of 44.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.55. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $72.25 and a two-hundred day moving average of $73.59. Agree Realty has a 1-year low of $67.58 and a 1-year 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, topping analysts' consensus estimates of $1.05 by $0.01. The business had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, research analysts anticipate that Agree Realty will post 4.27 EPS for the current year.

Agree Realty Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, October 31st. This is a positive change from Agree Realty's previous monthly dividend of $0.26. Agree Realty's payout ratio is currently 186.90%.

Insider Transactions at Agree Realty

In other news, CEO Joey Agree acquired 3,528 shares of the firm's stock in a transaction on Thursday, October 2nd. The stock was bought at an average cost of $70.63 per share, with a total value of $249,182.64. Following the transaction, the chief executive officer directly owned 638,688 shares in the company, valued at approximately $45,110,533.44. This represents a 0.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Erlich acquired 360 shares of the firm'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 completion of the transaction, the insider owned 52,846 shares in the company, valued at $3,743,610.64. The trade was a 0.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 36,742 shares of company stock valued at $2,601,704. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Agree Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Agree Realty by 7.1% during the second quarter. State Street Corp now owns 5,764,979 shares of the real estate investment trust's stock worth $422,629,000 after acquiring an additional 381,438 shares during the period. Cubist Systematic Strategies LLC grew its position in Agree Realty by 1,804.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 286,508 shares of the real estate investment trust's stock worth $20,932,000 after purchasing an additional 271,464 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Agree Realty in the 2nd quarter worth about $15,094,000. Bank of America Corp DE grew its position in Agree Realty by 26.4% in the 2nd quarter. Bank of America Corp DE now owns 951,096 shares of the real estate investment trust's stock worth $69,487,000 after purchasing an additional 198,493 shares during the last quarter. Finally, Sei Investments Co. grew its position in Agree Realty by 38.8% in the 2nd quarter. Sei Investments Co. now owns 641,225 shares of the real estate investment trust's stock worth $46,848,000 after purchasing an additional 179,147 shares during the last quarter. 97.83% of the stock is 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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