Agree Realty Corporation (NYSE:ADC) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts remain moderately bullish on Agree Realty, with 11 buy, four hold, and one strong-buy ratings among 16 brokerages. The average 12-month price target is $83.25, above the stock’s $67.45 opening price.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year and above estimates, though EPS of $0.44 missed consensus by $0.04. Shares are near their 52-week low and below both their 50- and 200-day moving averages.
• The REIT announced a monthly dividend of $0.267 per share, equivalent to an annualized $3.20 payout and a 4.8% yield. Insiders have also purchased 48,496 shares worth approximately $3.4 million over the past 90 days.

Agree Realty Corporation (NYSE:ADC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $83.25.

A number of research analysts have recently issued reports on ADC shares. Jefferies Financial Group started coverage on Agree Realty in a research note on Monday, June 1st. They set a "buy" rating and a $84.00 price objective for the company. Huntington started coverage on shares of Agree Realty in a report on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 target price for the company. Stifel Nicolaus lowered their price target on shares of Agree Realty from $84.00 to $81.50 and set a "buy" rating on the stock in a report on Friday, September 18th. Barclays lifted their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Finally, Mizuho decreased their target price on shares of Agree Realty from $80.00 to $72.00 and set a "neutral" rating for the company in a research report on Thursday, September 17th.

Agree Realty Trading Up 0.4%

ADC opened at $67.45 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average is $73.99 and its two-hundred day moving average is $75.56. The company has a market capitalization of $8.39 billion, a P/E ratio of 36.26, a PEG ratio of 2.19 and a beta of 0.46. Agree Realty has a 52 week low of $66.50 and a 52 week high of $82.08.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) 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 the consensus estimate of $204.53 million. During the same quarter in the previous year, the company earned $1.06 earnings per share. The firm's revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Analysts forecast that Agree Realty will post 4.45 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be paid a $0.2670 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 4.8%. Agree Realty's dividend payout ratio (DPR) is 172.04%.

Insider Activity at Agree Realty

In other Agree Realty news, insider Craig Erlich bought 1,000 shares of Agree Realty stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average price of $67.55 per share, with a total value of $67,550.00. Following the completion of the acquisition, the insider directly owned 60,388 shares in the company, valued at approximately $4,079,209.40. This trade represents a 1.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joey Agree bought 7,360 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average price of $68.06 per share, with a total value of $500,921.60. Following the completion of the transaction, the chief executive officer directly owned 682,465 shares of the company's stock, valued at $46,448,567.90. This trade represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 48,496 shares of company stock valued at $3,418,670 in the last ninety days. Company insiders own 1.80% of the company's stock.

Institutional Trading of Agree Realty

A number of hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. increased its holdings in shares of Agree Realty by 16.6% during the 2nd quarter. QRG Capital Management Inc. now owns 4,809 shares of the real estate investment trust's stock valued at $364,000 after purchasing an additional 685 shares in the last quarter. Community Bank of Raymore boosted its holdings in Agree Realty by 11.5% during the second quarter. Community Bank of Raymore now owns 44,624 shares of the real estate investment trust's stock worth $3,380,000 after buying an additional 4,600 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Agree Realty during the second quarter worth $51,000. NewEdge Advisors LLC grew its position in Agree Realty by 2,367.6% during the second quarter. NewEdge Advisors LLC now owns 2,739 shares of the real estate investment trust's stock valued at $207,000 after buying an additional 2,628 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Agree Realty by 103.4% in the second quarter. Squarepoint Ops LLC now owns 86,373 shares of the real estate investment trust's stock valued at $6,542,000 after buying an additional 43,912 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Company Profile

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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