Agree Realty Corporation (NYSE:ADC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Agree Realty Corporation (NYSE:ADC) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $82.5909.

A number of equities research analysts have issued reports on the company. Evercore decreased their target price on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Stifel Nicolaus lifted their price target on shares of Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Barclays boosted their price objective on shares of Agree Realty from $78.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday. UBS Group raised their target price on shares of Agree Realty from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 3rd.

Insider Transactions at Agree Realty

In other Agree Realty news, Director John Rakolta, Jr. acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average price of $72.18 per share, with a total value of $1,082,700.00. Following the transaction, the director owned 562,606 shares of the company’s stock, valued at approximately $40,608,901.08. This trade represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter Coughenour bought 500 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average price of $69.80 per share, with a total value of $34,900.00. Following the purchase, the chief financial officer owned 18,544 shares in the company, valued at $1,294,371.20. This trade represents a 2.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 39,500 shares of company stock worth $2,813,680. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

Several hedge funds have recently modified their holdings of ADC. Evergreen Capital Management LLC grew its stake in shares of Agree Realty by 2.7% in the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after acquiring an additional 154 shares during the last quarter. AE Wealth Management LLC raised its stake in Agree Realty by 3.5% during the 3rd quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 156 shares during the last quarter. IFP Advisors Inc boosted its holdings in Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 171 shares during the period. QRG Capital Management Inc. grew its position in Agree Realty by 5.4% in the 3rd quarter. QRG Capital Management Inc. now owns 3,395 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 174 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its position in Agree Realty by 5.8% in the 3rd quarter. HighPoint Advisor Group LLC now owns 3,162 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 174 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Agree Realty Stock Performance

ADC opened at $79.78 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $9.58 billion, a PE ratio of 45.08, a price-to-earnings-growth ratio of 3.08 and a beta of 0.52. The stock has a 50-day moving average of $75.84 and a 200-day moving average of $73.85. Agree Realty has a 52-week low of $68.98 and a 52-week high of $82.08.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.262 dividend. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Agree Realty’s dividend payout ratio (DPR) is currently 177.40%.

About Agree Realty

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.