Agree Realty (NYSE:ADC) Reaches New 1-Year Low - Here's Why

Key Points

• Agree Realty shares fell to a new 52-week low of $69.48, well below their 50-day and 200-day moving averages of $75.75 and $76.28, respectively.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $83.94, implying significant upside from recent levels.
• The REIT reported quarterly EPS of $0.44, below the $0.48 consensus estimate, while revenue rose 16.8% year over year. It also declared a monthly dividend of $0.267 per share, representing an annualized yield of about 4.6%.

Shares of Agree Realty Corporation (NYSE:ADC - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $69.48 and last traded at $69.5770, with a volume of 253832 shares. The stock had previously closed at $70.07.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADC shares. Huntington started coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Agree Realty in a research report on Monday, June 1st. They set a "buy" rating and a $84.00 target price for the company. Barclays raised their target price on shares of Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Robert W. Baird set a $83.00 price target on shares of Agree Realty in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 25th. One 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.94.

Agree Realty Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a fifty day simple moving average of $75.75 and a two-hundred day simple moving average of $76.28. The firm has a market cap of $8.62 billion, a PE ratio of 37.25, a PEG ratio of 2.31 and a beta of 0.46.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). The firm had revenue of $216.33 million for the quarter, compared to analysts' expectations of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm's revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts predict that Agree Realty Corporation will post 4.45 EPS 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. Investors of record on Wednesday, September 30th will be paid a dividend of $0.267 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 4.6%. Agree Realty's dividend payout ratio is presently 172.04%.

Insider Activity at Agree Realty

In other Agree Realty news, Director John Rakolta, Jr. acquired 20,000 shares of the company's stock in a transaction on Thursday, August 27th. The stock was acquired at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the purchase, the director directly owned 622,061 shares of the company's stock, valued at approximately $45,553,527.03. This represents a 3.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Agree Realty in the second quarter valued at $1,447,551,000. Cohen & Steers Inc. increased its position in shares of Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust's stock worth $1,015,324,000 after acquiring an additional 649,301 shares during the period. Principal Financial Group Inc. raised its stake in shares of Agree Realty by 5.4% during the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust's stock valued at $341,180,000 after acquiring an additional 232,532 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of Agree Realty by 13.9% during the fourth quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust's stock valued at $237,639,000 after acquiring an additional 402,943 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Agree Realty by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 2,509,922 shares of the real estate investment trust's stock valued at $180,823,000 after purchasing an additional 117,346 shares during the period. Institutional investors own 97.83% of the company's stock.

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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