Agree Realty (NYSE:ADC) Director John Rakolta Jr Purchases 20,000 Shares

Key Points

• Insider buying: Agree Realty Director John Rakolta Jr. purchased 20,000 shares at an average of $73.23, investing approximately $1.46 million and increasing his ownership by 3.32% to 622,061 shares.
• Quarterly performance: The REIT reported quarterly revenue of $216.33 million, up 16.8% year over year and above estimates, but earnings per share of $0.44 missed consensus expectations of $0.48.
• Income and outlook: Agree Realty declared a monthly dividend of $0.267 per share, representing an annualized yield of about 4.4%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $83.94, compared with a share price near $73.21.

Agree Realty Corporation (NYSE:ADC - Get Free Report) Director John Rakolta, Jr. purchased 20,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 622,061 shares in the company, valued at $45,553,527.03. The trade was a 3.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Agree Realty Trading Up 0.0%

NYSE ADC opened at $73.21 on Monday. The company has a market capitalization of $9.11 billion, a PE ratio of 39.36, a P/E/G ratio of 2.39 and a beta of 0.47. The stock has a 50-day simple moving average of $76.77 and a 200 day simple moving average of $76.78. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08.

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

Agree Realty Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays boosted their price objective on Agree Realty from $84.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Robert W. Baird set a $83.00 price objective on Agree Realty in a report on Friday, July 31st. Jefferies Financial Group assumed coverage on shares of Agree Realty in a research note on Monday, June 1st. They set a "buy" rating and a $84.00 price target for the company. Huntington started coverage on shares of Agree Realty in a report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price target for the company. Finally, Mizuho cut their target price on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Agree Realty presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.94.

Institutional Investors Weigh In On Agree Realty

Large investors have recently modified their holdings of the stock. Clearstead Trust LLC grew its position in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 242 shares in the last quarter. Wiser Advisor Group LLC purchased a new stake in shares of Agree Realty in the 3rd quarter valued at $32,000. Clearstead Advisors LLC grew its stake in shares of Agree Realty by 163.8% during the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 285 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Agree Realty by 71.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after buying an additional 192 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its stake in shares of Agree Realty by 214.4% in the 4th quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 373 shares during 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 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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