Agree Realty (NYSE:ADC) Now Covered by Huntington

Research analysts at Huntington started coverage on shares of Agree Realty (NYSE:ADC) in a research note issued on Wednesday. The brokerage set an “outperform” rating and a $84.00 price target on the real estate investment trust’s stock. Huntington’s price objective would indicate a potential upside of 7.62% from the stock’s previous close.

A number of other analysts have also issued reports on ADC. Barclays dropped their target price on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 19th. Morgan Stanley set a $81.00 target price on Agree Realty in a research report on Tuesday, April 21st. BMO Capital Markets lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target for the company. in a research note on Friday, April 17th. Jefferies Financial Group started coverage on shares of Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Agree Realty Price Performance

Shares of ADC stock opened at $78.05 on Wednesday. The firm has a fifty day simple moving average of $75.44 and a 200-day simple moving average of $75.75. The company has a market capitalization of $9.37 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 2.61 and a beta of 0.47. Agree Realty has a twelve month low of $69.56 and a twelve month high of $82.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

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

Insider Activity

In other news, Chairman Richard Agree purchased 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the purchase, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joey Agree acquired 13,295 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares in the company, valued at approximately $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 19,045 shares of company stock valued at $1,415,943. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Agree Realty

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in shares of Agree Realty by 268.9% during the first quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock valued at $2,112,000 after acquiring an additional 19,948 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Agree Realty by 158.9% during 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 period. Arrowstreet Capital Limited Partnership acquired a new stake in Agree Realty in the 2nd quarter valued at about $1,875,000. EverSource Wealth Advisors LLC boosted its position in shares of Agree Realty by 245.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 965 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Agree Realty by 46.8% in the 2nd quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust’s stock worth $5,421,000 after purchasing an additional 23,662 shares in 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.