Agree Realty (NYSE:ADC) Price Target Lowered to $84.00 at Barclays

Key Points

• Barclays lowered its price target on Agree Realty from $86 to $84 while keeping an "equal weight" rating, implying about 10.9% upside from the current share price.
• Analyst sentiment is mixed but leaning positive, with the broader consensus rating at "Moderate Buy" and an average price target of $83.79. Several firms recently raised targets, while others cut theirs or downgraded the stock.
• Agree Realty posted solid quarterly results, beating EPS and revenue expectations with $0.50 EPS and $211.49 million in revenue, and insiders also bought shares recently, including CEO Joey Agree and Director Greg Lehmkuhl.

Agree Realty (NYSE:ADC - Get Free Report) had its target price lowered by stock analysts at Barclays from $86.00 to $84.00 in a research report issued on Tuesday, Marketbeat.com reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's target price would suggest a potential upside of 10.89% from the stock's current price.

A number of other brokerages have also issued reports on ADC. Royal Bank Of Canada increased their target price on shares of Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Robert W. Baird boosted their price target on Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Truist Financial increased their price target on Agree Realty from $79.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Mizuho lowered their price objective on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Finally, BMO Capital Markets cut Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price objective for the company. in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.79.

Agree Realty Stock Up 1.7%

ADC opened at $75.75 on Tuesday. The stock has a fifty day moving average of $77.18 and a 200-day moving average of $75.14. The company has a market capitalization of $9.10 billion, a P/E ratio of 40.95, a P/E/G ratio of 2.54 and a beta of 0.50. Agree Realty has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

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

Insider Buying and Selling

In other news, CEO Joey Agree purchased 13,295 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the acquisition, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. The trade was a 2.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg Lehmkuhl purchased 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the transaction, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. This represents a 2.22% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 14,191 shares of company stock valued at $1,069,944. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Agree Realty

A number of large investors have recently modified their holdings of the business. Clearstead Trust LLC raised its holdings in shares of Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock worth $27,000 after buying an additional 242 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 215 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in Agree Realty in the third quarter valued at about $32,000. Creative Financial Designs Inc. ADV grew its position in Agree Realty by 71.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 192 shares during the last quarter. Finally, Clearstead Advisors LLC grew its position in Agree Realty by 163.8% in the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds 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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