Mizuho Cuts Agree Realty (NYSE:ADC) Price Target to $72.00

Key Points

• Mizuho lowered Agree Realty’s price target from $80 to $72 while maintaining a “neutral” rating, implying roughly 4.93% upside from the reported $68.62 share price.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $83.44, despite ratings ranging from “Strong Buy” to “Sell.”
• Agree Realty recently reported quarterly revenue of $216.33 million, up 16.8% year over year, but missed earnings expectations with EPS of $0.44 versus the $0.48 consensus. Company insiders have bought 47,496 shares worth approximately $3.35 million over the past 90 days.

Agree Realty (NYSE:ADC - Get Free Report) had its price objective dropped by analysts at Mizuho from $80.00 to $72.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Mizuho's price objective would indicate a potential upside of 4.93% from the company's current price.

Several other research analysts have also recently commented on ADC. Jefferies Financial Group started coverage on shares of Agree Realty in a report on Monday, June 1st. They set a "buy" rating and a $84.00 price target for the company. Huntington started coverage on Agree Realty in a report on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 target price on the stock. Weiss Ratings upgraded Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 25th. Barclays raised their price target on Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.44.

Agree Realty Price Performance

ADC stock opened at $68.62 on Thursday. The business's 50-day moving average is $75.56 and its two-hundred day moving average is $76.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $8.53 billion, a P/E ratio of 37.18, a P/E/G ratio of 2.29 and a beta of 0.46. Agree Realty has a 1 year low of $67.93 and a 1 year high of $82.08.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). The company had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Analysts anticipate that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Agree Realty

In related news, Director John Rakolta, Jr. bought 20,000 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The shares were purchased at an average cost of $68.78 per share, with a total value of $1,375,600.00. Following the transaction, the director directly owned 654,602 shares of the company's stock, valued at approximately $45,023,525.56. This represents a 3.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joey Agree purchased 7,360 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average price of $68.06 per share, for a total transaction of $500,921.60. Following the completion of the purchase, the chief executive officer directly owned 682,465 shares in the company, valued at $46,448,567.90. This represents a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 47,496 shares of company stock valued at $3,351,120. Company insiders own 1.80% of the company's stock.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC raised its position in Agree Realty by 5.0% during the first quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 145 shares in the last quarter. Azzad Asset Management Inc. ADV grew its position in Agree Realty by 1.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust's stock worth $1,070,000 after acquiring an additional 154 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Agree Realty by 0.9% during the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust's stock worth $1,402,000 after purchasing an additional 171 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 192 shares during the last quarter. Finally, Integrated Investment Consultants LLC increased its stake in shares of Agree Realty by 3.4% during the 1st quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust's stock worth $435,000 after purchasing an additional 192 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 NYSE: ADC is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty's portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.

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