Agree Realty (NYSE:ADC) Chairman Purchases $357,050.00 in Stock

Agree Realty Corporation (NYSE:ADC) Chairman Richard Agree acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the transaction, the chairman owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This represents a 5.85% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Agree Realty Price Performance

NYSE ADC opened at $73.44 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $8.82 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 2.47 and a beta of 0.48. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The company has a 50 day moving average price of $75.97 and a two-hundred day moving average price of $75.24.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities analysts predict that Agree Realty Corporation will post 4.44 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty’s dividend payout ratio is presently 172.97%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group boosted their price target on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Citigroup raised their price objective on Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research note on Friday, April 24th. Jefferies Financial Group began coverage on Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price for the company. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Mizuho lowered their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.80.

Institutional Trading of Agree Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in Agree Realty by 268.9% in the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock worth $2,112,000 after buying an additional 19,948 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 356 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Agree Realty in the second quarter worth $1,875,000. EverSource Wealth Advisors LLC increased its position in Agree Realty by 245.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 965 shares during the period. Finally, First Trust Advisors LP raised its stake in Agree Realty by 46.8% during the 2nd quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust’s stock valued at $5,421,000 after purchasing an additional 23,662 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.