Agree Realty (NYSE:ADC) CEO Buys $500,921.60 in Stock

Key Points

• CEO insider purchase: Joey Agree bought 7,360 Agree Realty shares at an average price of $68.06, investing approximately $500,922. His direct ownership increased 1.09% to 682,465 shares.
• Stock and earnings: ADC shares opened at $68.57 after recently trading down 2.1%. Agree Realty reported quarterly revenue of $216.33 million, above estimates, but earnings per share of $0.44 missed the $0.48 consensus.
• Dividend and analyst outlook: The REIT declared a monthly $0.267 dividend, representing a 4.7% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.94.

Agree Realty Corporation (NYSE:ADC - Get Free Report) CEO Joey Agree bought 7,360 shares of Agree Realty stock in a transaction dated 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 purchase, the chief executive officer directly owned 682,465 shares in the company, valued at $46,448,567.90. This trade represents a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Agree Realty Trading Down 2.1%

ADC stock opened at $68.57 on Thursday. Agree Realty Corporation has a one year low of $67.93 and a one year high of $82.08. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. The company has a fifty day moving average price of $75.56 and a two-hundred day moving average price of $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.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts anticipate that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be paid a $0.267 dividend. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, September 30th. Agree Realty's payout ratio is 172.04%.

Institutional Trading of Agree Realty

Several large investors have recently modified their holdings of ADC. Pasadena Private Wealth LLC acquired a new position in shares of Agree Realty during the fourth quarter valued at about $1,349,000. Lasalle Investment Management Securities LLC grew its position in Agree Realty by 6.2% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust's stock valued at $48,586,000 after purchasing an additional 39,119 shares during the period. Vision Capital Corp acquired a new stake in Agree Realty in the 4th quarter valued at $3,920,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Agree Realty by 7.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust's stock valued at $58,916,000 after purchasing an additional 54,478 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Agree Realty by 6,172.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust's stock valued at $6,926,000 after purchasing an additional 99,003 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADC shares. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Jefferies Financial Group started coverage on shares of Agree Realty in a research note on Monday, June 1st. They issued a "buy" rating and a $84.00 price objective for the company. Weiss Ratings upgraded Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 25th. Huntington assumed coverage on Agree Realty in a report on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 target price for the company. Finally, Barclays raised their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. One investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.94.

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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