Agree Realty (NYSE:ADC) Coverage Initiated at Huntington

Research analysts at Huntington assumed coverage on shares of Agree Realty (NYSE:ADC) in a note issued to investors on Wednesday. The brokerage set an “outperform” rating and a $84.00 price target on the real estate investment trust’s stock. Huntington’s target price points to a potential upside of 7.62% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Truist Financial lifted their price target on Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Morgan Stanley set a $81.00 target price on Agree Realty in a research note on Tuesday, April 21st. Citigroup increased their price target on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Barclays decreased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.81.

Agree Realty Stock Down 0.7%

Shares of NYSE:ADC opened at $78.05 on Wednesday. The firm has a 50 day simple moving average of $75.44 and a 200 day simple moving average of $75.75. Agree Realty has a 52 week low of $69.56 and a 52 week high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $9.37 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 2.61 and a beta of 0.47.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data 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. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million for the quarter, compared to analysts’ expectations of $195.73 million. During the same period in the previous year, the company posted $0.42 EPS. The company’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. As a group, research analysts expect that Agree Realty will post 4.45 earnings per share for the current year.

Insider Activity at Agree Realty

In related news, Chairman Richard Agree bought 5,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was purchased at an average price of $71.41 per share, with a total value of $357,050.00. Following the completion of the transaction, the chairman directly owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg Lehmkuhl purchased 750 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 19,045 shares of company stock valued at $1,415,943. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently modified their holdings of the company. Private Advisor Group LLC lifted its holdings in shares of Agree Realty by 5.0% during the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 145 shares during the period. Evergreen Capital Management LLC lifted its stake in Agree Realty by 2.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock valued at $430,000 after purchasing an additional 154 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Agree Realty by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock valued at $1,070,000 after acquiring an additional 154 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Agree Realty by 18.2% during the third 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 in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Agree Realty by 0.9% during the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock worth $1,402,000 after buying an additional 171 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.