Agree Realty’s (ADC) “Hold (C+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c+) rating on shares of Agree Realty (NYSE:ADC) in a research note published on Wednesday morning,Weiss Ratings reports.

A number of other research firms have also weighed in on ADC. Truist Financial set a $84.00 target price on shares of Agree Realty in a report on Friday, August 8th. Barclays dropped their target price on shares of Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, August 20th. Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Mizuho dropped their target price on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Evercore ISI increased their target price on shares of Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.63.

Agree Realty Stock Up 2.1%

Shares of NYSE:ADC opened at $72.09 on Wednesday. The stock’s 50-day moving average price is $72.20 and its 200-day moving average price is $73.71. Agree Realty has a 12-month low of $67.58 and a 12-month high of $79.65. The stock has a market capitalization of $7.98 billion, a P/E ratio of 42.91, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59.

Agree Realty (NYSE:ADC) last released 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. The firm had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 earnings per share. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, equities analysts anticipate that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

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

Insider Buying and Selling at Agree Realty

In other Agree Realty news, insider Craig Erlich bought 360 shares of the stock in a transaction dated 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 acquisition, the insider 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction dated Friday, September 5th. The shares were acquired at an average price of $72.84 per share, with a total value of $54,630.00. Following the completion of the acquisition, the director directly owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. The trade was a 2.78% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 36,742 shares of company stock valued at $2,601,704 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Agree Realty

Several large investors have recently made changes to their positions in ADC. NBC Securities Inc. purchased a new position in shares of Agree Realty during the first quarter valued at approximately $39,000. UMB Bank n.a. lifted its holdings in shares of Agree Realty by 53.2% during the first quarter. UMB Bank n.a. now owns 1,745 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 606 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Agree Realty by 1.2% during the first quarter. Yousif Capital Management LLC now owns 40,036 shares of the real estate investment trust’s stock valued at $3,090,000 after acquiring an additional 456 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Agree Realty by 29.1% during the first quarter. Handelsbanken Fonder AB now owns 27,537 shares of the real estate investment trust’s stock valued at $2,126,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position 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 valued at $36,000 after acquiring an additional 270 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Company Profile

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.