Agree Realty Corporation (NYSE:ADC) Short Interest Update

Agree Realty Corporation (NYSE:ADC) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 6,204,593 shares, a drop of 56.1% from the August 15th total of 14,129,405 shares. Currently, 5.1% of the company’s stock are sold short. Based on an average trading volume of 1,701,504 shares, the short-interest ratio is presently 3.6 days.

Insider Buying and Selling

In other news, Director John Rakolta, Jr. acquired 20,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the completion of the acquisition, the director directly owned 622,061 shares in the company, valued at $45,553,527.03. This represents a 3.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pasadena Private Wealth LLC acquired a new position in shares of Agree Realty during the fourth quarter worth approximately $1,349,000. Lasalle Investment Management Securities LLC increased its stake in Agree Realty by 6.2% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock valued at $48,586,000 after acquiring an additional 39,119 shares during the period. Vision Capital Corp acquired a new position in Agree Realty in the 4th quarter valued at approximately $3,920,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Agree Realty by 7.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock worth $58,916,000 after acquiring an additional 54,478 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Agree Realty by 6,172.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after purchasing an additional 99,003 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Stock Performance

NYSE ADC traded down $1.29 on Wednesday, hitting $68.78. The stock had a trading volume of 529,056 shares, compared to its average volume of 1,273,251. The company’s 50-day moving average is $75.75 and its two-hundred day moving average is $76.28. Agree Realty has a one year low of $68.88 and a one year high of $82.08. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 36.98, a P/E/G ratio of 2.31 and a beta of 0.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was up 16.8% on a year-over-year basis. 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 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a $0.267 dividend. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, September 30th. Agree Realty’s dividend payout ratio is currently 172.04%.

Analysts Set New Price Targets

Several analysts have weighed in on ADC shares. Huntington initiated coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price for the company. Jefferies Financial Group started coverage on shares of Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price on the stock. Barclays upped their target price on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Robert W. Baird set a $83.00 price target on Agree Realty in a research report on Friday, July 31st. Finally, Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.94.

About Agree Realty

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.