Joey Agree Buys 13,295 Shares of Agree Realty (NYSE:ADC) Stock

Agree Realty Corporation (NYSE:ADC) CEO Joey Agree purchased 13,295 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the transaction, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at approximately $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Agree Realty Trading Down 0.2%

NYSE ADC opened at $75.59 on Wednesday. The stock’s 50-day simple moving average is $77.07 and its two-hundred day simple moving average is $75.15. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month 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. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 2.59 and a beta of 0.50.

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 for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Research analysts forecast that Agree Realty Corporation will post 4.44 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.267 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. Agree Realty’s payout ratio is currently 172.97%.

Institutional Trading of Agree Realty

Several large investors have recently bought and sold shares of the company. Private Advisor Group LLC boosted its position in Agree Realty by 5.0% during the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 145 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of Agree Realty by 2.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after purchasing an additional 154 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Agree Realty by 1.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock worth $1,070,000 after purchasing an additional 154 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Agree Realty by 3.5% in the 3rd quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 156 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 171 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADC has been the topic of several analyst reports. Royal Bank Of Canada lifted their price objective on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Mizuho decreased their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Truist Financial lifted their price objective on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Stifel Nicolaus lifted their price objective on Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Robert W. Baird lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.79.

Agree Realty Company Profile

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.