Agree Realty Corporation (NYSE:ADC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Agree Realty Corporation (NYSE:ADC) have received a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $83.80.

ADC has been the topic of several analyst reports. Weiss Ratings raised shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. Mizuho cut their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Barclays cut their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 19th. BMO Capital Markets cut shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a report on Friday, April 17th. Finally, Jefferies Financial Group started coverage on shares of Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock.

Agree Realty Stock Down 1.2%

Shares of NYSE:ADC opened at $73.82 on Thursday. The firm’s 50 day moving average price is $75.84 and its 200 day moving average price is $75.26. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 2.51 and a beta of 0.48. Agree Realty has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $211.49 million for the quarter, compared to analysts’ expectations of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities research analysts predict that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Joey Agree acquired 13,295 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, the chief executive officer owned 675,105 shares in the company, valued at $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard Agree acquired 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the acquisition, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This represents a 5.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 19,191 shares of company stock valued at $1,426,994. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds have recently modified their holdings of the business. Private Advisor Group LLC grew its position in shares of Agree Realty by 5.0% during the first 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 last quarter. Evergreen Capital Management LLC grew its position in shares of Agree Realty by 2.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after acquiring an additional 154 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in shares of Agree Realty by 1.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock worth $1,070,000 after acquiring an additional 154 shares during the last quarter. IFP Advisors Inc grew its position 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 worth $79,000 after acquiring an additional 171 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of Agree Realty by 0.9% during the first quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock worth $1,402,000 after acquiring an additional 171 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

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.