Agree Realty Corporation (NYSE:ADC) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately bullish: Sixteen analysts rate Agree Realty a consensus “Moderate Buy,” including eleven buys, four holds and one strong buy. The average 12-month price target is $83.94, versus the stock’s recent price of $72.36.
• Insiders and institutions have been buying: Company insiders purchased 25,136 shares worth approximately $1.83 million during the last quarter, while institutional investors own 97.83% of the stock.
• Agree Realty reported mixed financial results but maintained shareholder returns: Quarterly revenue rose 16.8% year over year to $216.33 million, though adjusted earnings per share missed estimates. The REIT declared a monthly dividend of $0.267 per share, representing an annualized yield of about 4.4%.

Shares of Agree Realty Corporation (NYSE:ADC - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $83.9375.

ADC has been the subject of a number of recent research reports. Huntington started coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price target for the company. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research report on Friday, July 31st. Jefferies Financial Group initiated coverage on Agree Realty in a research report on Monday, June 1st. They set a "buy" rating and a $84.00 price target on the stock. Weiss Ratings raised Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 25th. Finally, Mizuho lowered their target price 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.

Insider Buying and Selling at Agree Realty

In other news, Chairman Richard Agree purchased 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $71.41 per share, with a total value of $357,050.00. Following the completion of the acquisition, the chairman owned 90,512 shares of the company's stock, valued at approximately $6,463,461.92. This represents a 5.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Rakolta, Jr. purchased 20,000 shares of the stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $73.23 per share, for a total transaction of $1,464,600.00. Following the transaction, the director directly owned 622,061 shares of the company's stock, valued at $45,553,527.03. This represents a 3.32% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 25,136 shares of company stock valued at $1,831,649. Company insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Agree Realty during the 2nd quarter worth $1,447,551,000. Cohen & Steers Inc. lifted its position in Agree Realty by 4.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust's stock valued at $1,015,324,000 after buying an additional 649,301 shares during the last quarter. California State Teachers Retirement System boosted its stake in Agree Realty by 7,473.6% during the second quarter. California State Teachers Retirement System now owns 10,617,309 shares of the real estate investment trust's stock worth $804,155,000 after buying an additional 10,477,120 shares during the period. State Street Corp raised its stake in shares of Agree Realty by 1.6% in the 4th quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust's stock valued at $425,350,000 after acquiring an additional 91,766 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Agree Realty by 5.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust's stock worth $341,180,000 after acquiring an additional 232,532 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

ADC stock opened at $72.36 on Tuesday. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 2.39 and a beta of 0.47. The firm has a 50-day simple moving average of $76.75 and a two-hundred day simple moving average of $76.75. Agree Realty has a one year low of $69.56 and a one year high of $82.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82.

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

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.267 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Agree Realty's dividend payout ratio (DPR) is presently 172.04%.

Agree Realty Company Profile

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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