Agree Realty (NYSE:ADC) Hits New 12-Month Low - Here's What Happened

Key Points

• Agree Realty shares hit a new 52-week low, falling to $64.91 and trading about 1% lower. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but remains broadly positive: the consensus rating is “Moderate Buy” with an average price target of $82.81, despite recent downgrades from some firms.
• The REIT declared a monthly dividend of $0.267 per share, equivalent to an annualized $3.20 payout and a 5.0% yield. Company insiders also bought 48,496 shares worth roughly $3.4 million over the past 90 days.

Agree Realty Corporation (NYSE:ADC - Get Free Report)'s stock price reached a new 52-week low on Thursday. The stock traded as low as $64.91 and last traded at $64.9150, with a volume of 56753 shares traded. The stock had previously closed at $65.16.

Analyst Ratings Changes

ADC has been the subject of several research reports. Weiss Ratings cut shares of Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, September 17th. Truist Financial initiated coverage on Agree Realty in a report on Thursday, October 1st. They set a "buy" rating and a $75.00 target price on the stock. Wall Street Zen lowered Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Mizuho reduced their price objective on Agree Realty from $80.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, September 17th. Finally, Barclays boosted their price objective on Agree Realty from $84.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. One equities research 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 company's stock. According to data from MarketBeat, Agree Realty presently has an average rating of "Moderate Buy" and a consensus target price of $82.81.

Agree Realty Stock Down 1.0%

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 $8.02 billion, a PE ratio of 34.67, a P/E/G ratio of 2.21 and a beta of 0.42. The business's 50 day simple moving average is $71.70 and its 200 day simple moving average is $74.77.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $216.33 million during the quarter, compared to analysts' expectations of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The business's quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.2670 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.0%. Agree Realty's dividend payout ratio is currently 172.04%.

Insider Buying and Selling

In other Agree Realty news, Director John Rakolta, Jr. acquired 20,000 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The stock was purchased at an average cost of $68.78 per share, with a total value of $1,375,600.00. Following the transaction, the director owned 654,602 shares of the company's stock, valued at $45,023,525.56. This trade represents a 3.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joey Agree acquired 7,360 shares of Agree Realty stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average price of $68.06 per share, for a total transaction of $500,921.60. Following the completion of the acquisition, the chief executive officer owned 682,465 shares in the company, valued at $46,448,567.90. This trade represents a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 48,496 shares of company stock valued at $3,418,670. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Agree Realty

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Agree Realty by 159.8% in the second quarter. Wellington Management Group LLP now owns 184,545 shares of the real estate investment trust's stock valued at $13,977,000 after purchasing an additional 113,520 shares during the period. Vision Capital Corp purchased a new position in shares of Agree Realty during the fourth quarter worth $3,920,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Agree Realty by 7.5% in the first 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 buying an additional 54,478 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of Agree Realty in the second quarter valued at $2,384,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Agree Realty in the 1st quarter valued at $2,616,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) that owns, develops, acquires and manages retail properties leased primarily under long-term, single-tenant net lease agreements. Under these arrangements, tenants generally assume responsibility for property-level expenses such as taxes, insurance and maintenance.

The company focuses on necessity-based retail properties, including locations occupied by grocery stores, home improvement retailers, discount retailers, pharmacies and other service-oriented businesses.

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