Agree Realty (NYSE:ADC) Announces FY 2026 Earnings Guidance

Key Points

• Agree Realty raised its FY 2026 earnings guidance to $4.58–$4.59 per share, above the analyst consensus of $4.45. The company also reported third-quarter revenue growth of 16.7% year over year and earnings that exceeded expectations.
• The REIT increased its monthly dividend to $0.271 per share, equivalent to an annualized $3.25 dividend and a roughly 5.0% yield at the reported share price.
• Shares fell 4.0% to $64.41 as several analysts lowered price targets, although the consensus rating remained “Moderate Buy.” Recent insider purchases and the company’s approximately 99.8%-leased portfolio provided positive signals, while new debt and equity issuance raised dilution and financing concerns.

Agree Realty (NYSE:ADC - Get Free Report) updated its FY 2026 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.580-4.590 for the period, compared to the consensus estimate of 4.450.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADC. BNP Paribas Exane cut their target price on Agree Realty from $84.00 to $74.00 and set a "neutral" rating for the company in a research note on Wednesday. Stifel Nicolaus reduced their price target on shares of Agree Realty from $81.50 to $76.50 and set a "buy" rating for the company in a research report on Wednesday. Huntington assumed coverage on Agree Realty in a report on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 price target on the stock. Mizuho reduced their price objective on Agree Realty from $80.00 to $72.00 and set a "neutral" rating for the company in a report on Thursday, September 17th. Finally, Barclays decreased their target price on Agree Realty from $85.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.82.

Agree Realty Trading Down 4.0%

Shares of NYSE:ADC traded down $2.67 during midday trading on Wednesday, reaching $64.41. The company's stock had a trading volume of 2,347,103 shares, compared to its average volume of 1,345,014. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 2.21 and a beta of 0.42. The business has a 50 day moving average price of $69.91 and a 200 day moving average price of $74.20. Agree Realty has a 1 year low of $64.34 and a 1 year high of $82.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.68. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%. The firm had revenue of $213.88 million for the quarter, compared to analyst estimates of $211.52 million. During the same period last year, the company earned $1.10 EPS. The firm's quarterly revenue was up 16.7% on a year-over-year basis. Research analysts forecast that Agree Realty will post 4.45 EPS for the current year.

Agree Realty Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.2710 dividend. This is a boost from Agree Realty's previous monthly dividend of $0.2670. The ex-dividend date is Friday, October 30th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 5.0%. Agree Realty's dividend payout ratio (DPR) is 172.04%.

Insider Buying and Selling at Agree Realty

In other news, insider Craig Erlich acquired 1,000 shares of the company's stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of $67.55 per share, for a total transaction of $67,550.00. Following the acquisition, the insider directly owned 60,388 shares in the company, valued at approximately $4,079,209.40. This represents a 1.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Rakolta, Jr. acquired 20,000 shares of the company's stock in a transaction dated Wednesday, September 16th. The shares were purchased at an average price of $68.78 per share, with a total value of $1,375,600.00. Following the completion of the acquisition, the director owned 654,602 shares in the company, valued at approximately $45,023,525.56. The trade was a 3.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 48,496 shares of company stock worth $3,418,670 in the last quarter. 1.80% of the stock is owned by insiders.

Key Agree Realty News

Here are the key news stories impacting Agree Realty this week:

• Positive Sentiment: Third-quarter results exceeded expectations. Agree Realty reported adjusted FFO of $1.15 per share, ahead of the $1.14 consensus estimate and up from $1.10 a year earlier. Revenue rose 16.7% year over year to $213.9 million, slightly above expectations. Agree Realty Beats Q3 FFO and Revenue Estimates
• Positive Sentiment: Management raised full-year guidance. Agree Realty increased its 2026 AFFO-per-share outlook to $4.58-$4.59. The retail net-lease REIT also reported a highly occupied portfolio—approximately 99.8% leased—along with $2.0 billion of liquidity and $357.7 million of third-quarter property investments. Agree Realty Reports Third-Quarter Results
• Neutral Sentiment: Analysts still see upside, but estimates are being reset. Robert W. Baird lowered its target from $77 to $76 while retaining an “outperform” rating. Wells Fargo reportedly reduced its target to $79, and BNP Paribas Exane cut its target from $84 to $74 and moved to “neutral.” The lower targets may weigh on sentiment even though they remain above the current share price. Wells Fargo Cuts Agree Realty Price Target
• Negative Sentiment: Capital raising increases near-term concerns. Agree Realty issued $400 million of senior notes and settled 5.7 million forward-equity shares for $425.7 million during the quarter. While these transactions support acquisitions and liquidity, the debt expense and potential equity dilution can limit per-share growth and may contribute to the stock’s weakness. Agree Realty Reports Third-Quarter Earnings

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) that acquires, develops, and manages retail properties across the United States. The company primarily uses a net-lease structure, under which tenants generally are responsible for property-level operating expenses such as taxes, insurance, and maintenance.

Its portfolio is focused mainly on essential retail properties occupied by nationally recognized and regional tenants, including grocery stores, home improvement retailers, dollar stores, pharmacies, and other necessity-based businesses.

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