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

Agree Realty Corporation (NYSE:ADC) has been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $83.80.

A number of equities research analysts recently commented on the company. Barclays lowered their price target 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. Morgan Stanley set a $81.00 price target on Agree Realty in a research report on Tuesday, April 21st. Raymond James Financial increased their price target on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a research report on Tuesday, March 17th. Jefferies Financial Group assumed coverage on Agree Realty in a research report on Monday, June 1st. They issued a “buy” rating and a $84.00 price target for the company. Finally, Royal Bank Of Canada increased their price target on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd.

Agree Realty Price Performance

Agree Realty stock opened at $75.39 on Thursday. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.50 and a beta of 0.48. Agree Realty has a 52-week low of $69.56 and a 52-week high of $82.08. The stock’s 50 day moving average price is $75.49 and its two-hundred day moving average price is $75.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

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, topping analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million for the quarter, compared to analysts’ expectations of $195.73 million. During the same period last year, the business earned $0.42 EPS. Agree Realty’s quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities analysts predict that Agree Realty will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

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

Insider Activity

In other news, Director Greg Lehmkuhl purchased 750 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the purchase, the director owned 34,465 shares of the company’s stock, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard Agree bought 5,000 shares of Agree Realty stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, with a total value of $357,050.00. Following the acquisition, the chairman directly owned 90,512 shares in the company, valued at approximately $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 19,191 shares of company stock valued at $1,426,994 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Agree Realty

A number of hedge funds have recently bought and sold shares of the company. Centersquare Investment Management LLC increased its position 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 buying an additional 51,269 shares during the period. JPMorgan Chase & Co. increased its position 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 buying an additional 799,185 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Agree Realty by 6,172.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock valued at $6,926,000 after buying an additional 99,003 shares during the period. Vanguard Group Inc. increased its position 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 buying an additional 84,568 shares during the period. Finally, Pasadena Private Wealth LLC purchased a new position in shares of Agree Realty during the fourth quarter valued at about $1,349,000. Institutional investors own 97.83% of the company’s stock.

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.