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

Agree Realty Corporation (NYSE:ADC) Chairman Richard Agree purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average price of $71.41 per share, with a total value of $357,050.00. Following the transaction, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This represents a 5.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Agree Realty Trading Up 1.7%

ADC opened at $74.49 on Wednesday. The firm has a market cap of $8.95 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.46 and a beta of 0.48. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $75.96 and a 200 day moving average of $75.25.

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

Agree Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.267 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty’s dividend payout ratio (DPR) is currently 172.97%.

Institutional Trading of Agree Realty

Several institutional investors have recently added to or reduced their stakes in the company. Centersquare Investment Management LLC raised its stake in shares of Agree Realty by 1.8% during the third quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust’s stock valued at $205,748,000 after acquiring an additional 51,269 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Agree Realty by 65.6% during the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock valued at $143,268,000 after acquiring an additional 799,185 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in shares of Agree Realty during the third quarter valued at approximately $971,000. Vanguard Group Inc. raised its stake in shares of Agree Realty by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after acquiring an additional 84,568 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Agree Realty by 7.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 727,114 shares of the real estate investment trust’s stock valued at $52,374,000 after acquiring an additional 48,130 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADC shares. Robert W. Baird lifted their price target on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. UBS Group lifted their price target on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Barclays decreased their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 19th. Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus raised their price objective on shares of Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.80.

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.