Agree Realty Corporation (NYSE:ADC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Agree Realty Corporation (NYSE:ADC) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $80.6250.

Several equities research analysts recently issued reports on ADC shares. Barclays cut their price target on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 20th. Evercore ISI upped their target price on Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Truist Financial set a $84.00 price target on Agree Realty in a research note on Friday, August 8th. Finally, Mizuho reduced their price objective on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th.

Insider Activity

In other Agree Realty news, insider Craig Erlich bought 360 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was purchased at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the purchase, the insider directly owned 52,846 shares of the company’s stock, valued at approximately $3,743,610.64. This trade represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Rakolta, Jr. purchased 25,154 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was acquired at an average price of $70.41 per share, for a total transaction of $1,771,093.14. Following the purchase, the director owned 553,700 shares in the company, valued at approximately $38,986,017. The trade was a 4.76% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 36,742 shares of company stock valued at $2,601,704 in the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

A number of hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new position in Agree Realty during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its position in Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 306 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Agree Realty during the first quarter worth $33,000. Capital Advisors Ltd. LLC increased its holdings in shares of Agree Realty by 137.8% during the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 270 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Agree Realty in the 1st quarter valued at $39,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Trading Up 2.1%

ADC stock opened at $72.09 on Friday. Agree Realty has a 52 week low of $67.58 and a 52 week high of $79.65. The company has a market capitalization of $7.98 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. The company’s 50-day simple moving average is $72.20 and its 200 day simple moving average is $73.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The firm had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. During the same quarter in the previous year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, sell-side analysts anticipate that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a $0.256 dividend. This represents a yield of 432.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Agree Realty’s dividend payout ratio (DPR) is 182.74%.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.