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

Shares of Agree Realty Corporation (NYSE:ADC) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Four 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 brokers that have covered the stock in the last year is $83.25.

Several equities analysts recently weighed in on ADC shares. Stifel Nicolaus dropped their price target on shares of Agree Realty from $84.00 to $81.50 and set a “buy” rating on the stock in a research report on Friday, September 18th. Mizuho dropped their target price on Agree Realty from $80.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, September 17th. Barclays lifted their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research note on Friday, July 31st. Finally, Huntington began coverage on shares of Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 target price for the company.

Insider Activity at Agree Realty

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

Hedge Funds Weigh In On Agree Realty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. increased its holdings in Agree Realty by 16.6% during the second quarter. QRG Capital Management Inc. now owns 4,809 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 685 shares during the last quarter. Community Bank of Raymore boosted its stake in Agree Realty by 11.5% in the second quarter. Community Bank of Raymore now owns 44,624 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 4,600 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Agree Realty in the second quarter valued at about $51,000. NewEdge Advisors LLC grew its position in shares of Agree Realty by 2,367.6% during the 2nd quarter. NewEdge Advisors LLC now owns 2,739 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 2,628 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Agree Realty by 103.4% during the 2nd quarter. Squarepoint Ops LLC now owns 86,373 shares of the real estate investment trust’s stock valued at $6,542,000 after acquiring an additional 43,912 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Stock Performance

ADC opened at $66.84 on Friday. 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 fifty day moving average price is $73.20 and its two-hundred day moving average price is $75.26. Agree Realty has a 1-year low of $66.50 and a 1-year high of $82.08. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 2.21 and a beta of 0.46.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The business had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the business 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 Dividend Announcement

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

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) that owns, develops, acquires and manages retail properties leased primarily under long-term, single-tenant net lease agreements. Under these arrangements, tenants generally assume responsibility for property-level expenses such as taxes, insurance and maintenance.

The company focuses on necessity-based retail properties, including locations occupied by grocery stores, home improvement retailers, discount retailers, pharmacies and other service-oriented businesses.