Insider Buying: Agree Realty (NYSE:ADC) CFO Buys 500 Shares of Stock

Agree Realty Corporation (NYSE:ADC) CFO Peter Coughenour purchased 500 shares of the company’s stock in a transaction on Friday, January 9th. The stock was bought at an average price of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the chief financial officer directly owned 18,544 shares of the company’s stock, valued at $1,294,371.20. The trade was a 2.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Agree Realty Stock Performance

Shares of ADC opened at $71.35 on Tuesday. The stock has a market capitalization of $8.20 billion, a P/E ratio of 41.73, a P/E/G ratio of 2.19 and a beta of 0.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. Agree Realty Corporation has a 1 year low of $68.10 and a 1 year high of $79.65. The company’s fifty day moving average is $72.82 and its two-hundred day moving average is $72.70.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. The business had revenue of $183.22 million for the quarter, compared to the consensus estimate of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, sell-side analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, December 31st. Agree Realty’s dividend payout ratio (DPR) is currently 183.63%.

Institutional Trading of Agree Realty

Several large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its stake in Agree Realty by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust’s stock valued at $2,340,000 after acquiring an additional 1,351 shares during the last quarter. Fifth Third Bancorp lifted its stake in Agree Realty by 33.5% during the second quarter. Fifth Third Bancorp now owns 6,030 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 1,512 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 306 shares during the period. Jump Financial LLC raised its holdings in shares of Agree Realty by 169.9% during the second quarter. Jump Financial LLC now owns 208,252 shares of the real estate investment trust’s stock worth $15,215,000 after purchasing an additional 131,100 shares during the period. Finally, Capital Fund Management S.A. bought a new position in shares of Agree Realty in the 2nd quarter worth about $1,414,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADC shares. Wells Fargo & Company lifted their price objective on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. KeyCorp increased their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Truist Financial decreased their target price on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Evercore ISI cut their price target on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Finally, Royal Bank Of Canada dropped their price objective on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and an average target price of $80.23.

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.