Agree Realty (NYSE:ADC) Reaches New 52-Week Low – Time to Sell?

Agree Realty Corporation (NYSE:ADC) shares reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $64.91 and last traded at $64.9150, with a volume of 56753 shares. The stock had previously closed at $65.16.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADC shares. Mizuho dropped their target price on Agree Realty from $80.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, September 17th. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a report on Friday, July 31st. Huntington began 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 on the stock. Finally, Barclays increased their target price 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.81.

Agree Realty Stock Down 1.0%

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.42. The business has a 50-day simple moving average of $71.70 and a 200-day simple moving average of $74.77.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The company had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, equities analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.2670 per share. This represents a $3.20 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Agree Realty’s payout ratio is 172.04%.

Insider Activity at Agree Realty

In other Agree Realty news, insider Craig Erlich purchased 1,000 shares of the business’s stock in a transaction on Monday, September 21st. The shares were bought at an average cost of $67.55 per share, for a total transaction of $67,550.00. Following the completion of the purchase, the insider directly owned 60,388 shares in the company, valued at approximately $4,079,209.40. This represents a 1.68% 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, CEO Joey Agree acquired 7,360 shares of the 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. This represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 48,496 shares of company stock valued at $3,418,670 over the last quarter. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Private Advisor Group LLC raised its position in 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. Azzad Asset Management Inc. ADV grew its position in shares of Agree Realty by 1.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock valued at $1,070,000 after purchasing an additional 154 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Agree Realty by 0.9% in the first quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 171 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Agree Realty by 3.4% during the 1st quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 192 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in shares of Agree Realty by 172.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 430 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 272 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.