Richard Agree Buys 5,000 Shares of Agree Realty (NYSE:ADC) Stock

Key Points

• Chairman Richard Agree bought 5,000 shares of Agree Realty at an average price of $71.41, a $357,050 purchase that increased his holdings by 5.85% to 90,512 shares.
• The company beat first-quarter earnings and revenue estimates, reporting $0.50 EPS versus $0.47 expected and $211.49 million in revenue versus $195.73 million expected, with revenue up 18.7% year over year.
• Agree Realty announced a quarterly dividend of $0.267 per share, payable June 12, which annualizes to $1.07 per share and yields about 1.5% at current prices.

Agree Realty Corporation (NYSE:ADC - Get Free Report) Chairman Richard Agree acquired 5,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the acquisition, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Agree Realty Price Performance

ADC stock opened at $73.44 on Monday. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The firm has a 50-day moving average of $75.97 and a two-hundred day moving average of $75.24. The firm has a market capitalization of $8.82 billion, a PE ratio of 39.70, a P/E/G ratio of 2.47 and a beta of 0.48. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, analysts forecast that Agree Realty Corporation will post 4.44 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty's payout ratio is 172.97%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADC shares. Raymond James Financial raised their target price on Agree Realty from $84.00 to $90.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, March 17th. BMO Capital Markets lowered Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price target on the stock. in a research report on Friday, April 17th. Barclays decreased their price objective on Agree Realty from $86.00 to $84.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 19th. Robert W. Baird lifted their target price on Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Stifel Nicolaus upped their target price on Agree Realty from $83.50 to $84.50 and gave the company a "buy" rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.80.

Hedge Funds Weigh In On Agree Realty

Several institutional investors and hedge funds have recently modified their holdings of ADC. Clearstead Trust LLC raised its holdings in shares of Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 242 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in Agree Realty in the third quarter valued at about $32,000. Creative Financial Designs Inc. ADV increased its position in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 192 shares during the last quarter. Clearstead Advisors LLC increased its position in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 285 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Agree Realty by 178.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 350 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

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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