Insider Buying: Agree Realty (NYSE:ADC) Insider Acquires 1,000 Shares

Key Points

• Insider buying: Craig Erlich purchased 1,000 Agree Realty shares for $67.55 each, increasing his position by 1.68% to 60,388 shares.
• Stock and operating performance: ADC opened at $67.29, near its one-year low of $67.15, while quarterly revenue rose 16.8% year over year. However, earnings per share of $0.44 missed analysts’ $0.48 estimate.
• Dividend and analyst view: Agree Realty declared a monthly $0.267 dividend, representing an approximately 4.8% annualized yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $83.25, despite some recent downgrades.

Agree Realty Corporation (NYSE:ADC - Get Free Report) insider Craig Erlich purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average price of $67.55 per share, with a total value of $67,550.00. Following the completion of the purchase, the insider owned 60,388 shares of the company's stock, valued at $4,079,209.40. This trade represents a 1.68% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Agree Realty Trading Down 0.5%

Shares of NYSE:ADC opened at $67.29 on Wednesday. The business's 50 day simple moving average is $74.74 and its 200 day simple moving average is $75.82. Agree Realty Corporation has a 1 year low of $67.15 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $8.37 billion, a P/E ratio of 36.18, a P/E/G ratio of 2.21 and a beta of 0.46.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate 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%. Agree Realty's revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, research analysts anticipate that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

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) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Agree Realty's payout ratio is 172.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on ADC. Jefferies Financial Group started coverage on shares of Agree Realty in a report on Monday, June 1st. They issued a "buy" rating and a $84.00 target price on the stock. Weiss Ratings downgraded shares of Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 17th. Barclays increased their price target 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. Mizuho decreased their price objective on shares of Agree Realty from $80.00 to $72.00 and set a "neutral" rating on the stock in a research note on Thursday, September 17th. Finally, Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Agree Realty has an average rating of "Moderate Buy" and a consensus target price of $83.25.

Institutional Investors Weigh In On Agree Realty

Several hedge funds have recently modified their holdings of the company. Private Advisor Group LLC raised its stake in Agree Realty by 5.0% in the first quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 145 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in shares of Agree Realty by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust's stock valued at $1,070,000 after buying an additional 154 shares in the last quarter. IFM Investors Pty Ltd lifted its position in Agree Realty by 0.9% in the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust's stock worth $1,402,000 after buying an additional 171 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Agree Realty by 3.4% in the first quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust's stock worth $435,000 after buying an additional 192 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Agree Realty by 4.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,881 shares of the real estate investment trust's stock worth $352,000 after acquiring an additional 226 shares in the last quarter. Institutional investors and hedge funds 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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