Greg Lehmkuhl Purchases 750 Shares of Agree Realty (NYSE:ADC) Stock

Agree Realty Corporation (NYSE:ADC) Director Greg Lehmkuhl purchased 750 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, with a total value of $56,317.50. Following the purchase, the director owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Agree Realty Stock Down 0.2%

Agree Realty stock opened at $75.59 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50-day moving average is $77.07 and its 200-day moving average is $75.15. The firm has a market capitalization of $9.08 billion, a PE ratio of 40.86, a P/E/G ratio of 2.59 and a beta of 0.50. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million during 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%. Agree Realty’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Sell-side analysts anticipate that Agree Realty Corporation will post 4.44 earnings per share for the current year.

Agree Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders 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 dividend yield of 1.4%. The ex-dividend date is Friday, May 29th. Agree Realty’s payout ratio is currently 172.97%.

Hedge Funds Weigh In On Agree Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearstead Trust LLC grew its holdings in shares of Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 242 shares in the last quarter. Westside Investment Management Inc. raised its stake in Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 215 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in Agree Realty during the third quarter worth about $32,000. Creative Financial Designs Inc. ADV grew its stake in Agree Realty by 71.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 192 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in Agree Realty by 163.8% during the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 285 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADC. Stifel Nicolaus raised their price target on Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a report on Wednesday, February 11th. Barclays decreased their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday. Robert W. Baird raised their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Raymond James Financial lifted their target price on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 17th. Finally, Morgan Stanley set a $81.00 price target on shares of Agree Realty in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.79.

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.