Agree Realty (NYSE:ADC) Upgraded to Strong-Buy at Jefferies Financial Group

Key Points

• Jefferies Financial Group upgraded Agree Realty to “strong-buy,” adding to a mixed but generally positive analyst backdrop. MarketBeat data shows the stock now has an average rating of Moderate Buy with an average price target of $83.80.
• Agree Realty’s latest earnings beat expectations, reporting $0.50 EPS versus the $0.47 consensus and revenue of $211.49 million, up 18.7% year over year. The company also reaffirmed growth outlook with FY 2026 EPS guidance of 4.540–4.580.
• Insider buying was notable, with both Director Greg Lehmkuhl and CEO Joey Agree purchasing shares in mid-May. The buys followed broader institutional interest, with 97.83% of the stock owned by institutional investors.

Agree Realty (NYSE:ADC - Get Free Report) was upgraded by Jefferies Financial Group to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on ADC. Barclays decreased their target price on Agree Realty from $86.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 19th. BMO Capital Markets downgraded Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price target on the stock. in a research report on Friday, April 17th. Raymond James Financial increased their price target on Agree Realty from $84.00 to $90.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, March 17th. Royal Bank Of Canada increased their price target on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley set a $81.00 price target on Agree Realty in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Agree Realty presently has an average rating of "Moderate Buy" and an average price target of $83.80.

Agree Realty Price Performance

Agree Realty stock opened at $72.54 on Monday. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. The stock's 50 day moving average is $76.19 and its 200-day moving average is $75.27. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.49 and a beta of 0.48.

Agree Realty (NYSE:ADC - Get Free Report) last posted its 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 return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Equities research analysts expect that Agree Realty will post 4.44 EPS for the current year.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the business's stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the purchase, the director directly owned 34,465 shares of the company's stock, valued at approximately $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joey Agree purchased 13,295 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the purchase, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. The trade was a 2.01% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 14,191 shares of company stock valued at $1,069,944 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADC. Principal Financial Group Inc. lifted its stake in shares of Agree Realty by 80.8% in the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust's stock valued at $309,266,000 after acquiring an additional 1,918,427 shares during the last quarter. Norges Bank bought a new position in shares of Agree Realty in the 4th quarter valued at $116,114,000. Engineers Gate Manager LP lifted its stake in shares of Agree Realty by 3,043.2% in the 4th quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust's stock valued at $85,156,000 after acquiring an additional 1,144,617 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Agree Realty by 41.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust's stock valued at $204,813,000 after acquiring an additional 826,719 shares during the last quarter. Finally, Rush Island Management LP bought a new position in shares of Agree Realty in the 1st quarter valued at $51,065,000. 97.83% of the stock is currently owned by institutional investors.

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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