Greg Lehmkuhl Buys 750 Shares of Agree Realty (NYSE:ADC) Stock

Key Points

• Insider buying: Director Greg Lehmkuhl purchased 750 shares of Agree Realty at an average price of $75.09, a transaction worth about $56,318 and increasing his stake by 2.22%.
• Quarterly results beat expectations: Agree Realty reported Q1 EPS of $0.50 versus the $0.47 consensus estimate, while revenue of $211.49 million also topped forecasts and rose 18.7% year over year.
• Dividend and analyst sentiment: The company declared a quarterly dividend of $0.267 per share, and Wall Street currently rates the stock a Moderate Buy with a consensus target price of $83.93.

Agree Realty Corporation (NYSE:ADC - Get Free Report) Director Greg Lehmkuhl bought 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $75.09 per share, with a total value of $56,317.50. Following the acquisition, the director owned 34,465 shares of the company's stock, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Agree Realty Trading Down 0.0%

Shares of Agree Realty stock opened at $74.45 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a fifty day moving average price of $77.29 and a 200 day moving average price of $75.12. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The stock has a market cap of $8.94 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 2.54 and a beta of 0.50.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $211.49 million during the quarter, compared to analysts' expectations of $195.73 million. During the same quarter last year, the company posted $0.42 earnings per share. The firm'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. Equities research analysts predict that Agree Realty Corporation will post 4.44 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty's dividend payout ratio (DPR) is 172.97%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADC. UBS Group lifted their price objective on shares of Agree Realty from $82.00 to $91.00 and gave the company a "buy" rating in a report on Monday, March 9th. Citigroup lifted their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the company a "neutral" rating in a report on Friday, April 24th. Robert W. Baird lifted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Finally, Truist Financial lifted their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the company a "buy" rating in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Agree Realty has an average rating of "Moderate Buy" and a consensus target price of $83.93.

Institutional Trading of Agree Realty

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in Agree Realty by 80.8% during the fourth quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust's stock worth $309,266,000 after acquiring an additional 1,918,427 shares during the last quarter. Norges Bank acquired a new position in Agree Realty during the fourth quarter worth about $116,114,000. Engineers Gate Manager LP boosted its position in Agree Realty by 3,043.2% during the fourth quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust's stock worth $85,156,000 after acquiring an additional 1,144,617 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Agree Realty by 41.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust's stock worth $204,813,000 after acquiring an additional 826,719 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its position in Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust's stock worth $1,015,324,000 after acquiring an additional 649,301 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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