Agree Realty Corporation (NYSE:ADC) Stock Has Consensus Target Price of $83.25

Shares of Agree Realty Corporation (NYSE:ADC) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $83.25.

Several brokerages recently commented on ADC. Barclays boosted their target price on Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. Huntington started coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. Robert W. Baird set a $83.00 price objective on Agree Realty in a research note on Friday, July 31st. Finally, Mizuho cut their price objective on Agree Realty from $80.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, September 17th.

Agree Realty Stock Down 0.3%

Agree Realty stock opened at $67.25 on Friday. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.20 and a beta of 0.46. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $73.72 and its two-hundred day moving average price is $75.43. Agree Realty has a 52 week low of $66.50 and a 52 week high of $82.08.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The company had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, analysts expect that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be given a $0.2670 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.20 annualized dividend and a yield of 4.8%. Agree Realty’s payout ratio is 172.04%.

Insiders Place Their Bets

In other Agree Realty news, CEO Joey Agree purchased 7,360 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of $68.06 per share, with a total value of $500,921.60. Following the acquisition, the chief executive officer owned 682,465 shares of the company’s stock, valued at $46,448,567.90. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Rakolta, Jr. purchased 20,000 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of $68.78 per share, for a total transaction of $1,375,600.00. Following the acquisition, the director directly owned 654,602 shares of the company’s stock, valued at $45,023,525.56. This represents a 3.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 48,496 shares of company stock worth $3,418,670. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Agree Realty

Hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC increased its stake 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 purchasing an additional 145 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Agree Realty by 1.1% in 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 purchasing an additional 154 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Agree Realty by 0.9% in the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 171 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in Agree Realty by 3.4% in the first quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 192 shares in the last quarter. Finally, Westpac Banking Corp boosted its holdings in Agree Realty by 1.3% in the first quarter. Westpac Banking Corp now owns 21,333 shares of the real estate investment trust’s stock worth $1,608,000 after purchasing an additional 283 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty’s portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.