Agree Realty (NYSE:ADC) Issues Earnings Results, Misses Expectations By $0.04 EPS

Agree Realty (NYSE:ADC) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04), FiscalAI reports. The firm had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty updated its FY 2026 guidance to 4.570-4.590 EPS.

Agree Realty Stock Performance

Shares of NYSE ADC traded down $2.07 during trading on Thursday, reaching $78.32. 1,207,053 shares of the company traded hands, compared to its average volume of 1,233,375. The firm has a 50 day simple moving average of $76.42 and a 200-day simple moving average of $76.41. The stock has a market capitalization of $9.41 billion, a PE ratio of 42.34, a P/E/G ratio of 2.70 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty has a 52-week low of $69.56 and a 52-week high of $82.08.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.267 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 4.1%. Agree Realty’s dividend payout ratio is currently 172.97%.

Insider Buying and Selling

In other news, Chairman Richard Agree bought 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were acquired at an average cost of $71.41 per share, with a total value of $357,050.00. Following the completion of the transaction, the chairman owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joey Agree purchased 13,295 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the transaction, the chief executive officer directly owned 675,105 shares in the company, valued at approximately $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 19,045 shares of company stock valued at $1,415,943 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wiser Advisor Group LLC purchased a new stake in shares of Agree Realty in the 3rd quarter worth $32,000. Transamerica Financial Advisors LLC lifted its position in Agree Realty by 214.4% during the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 373 shares in the last quarter. 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 valued at $42,000 after purchasing an additional 356 shares during the period. Advisory Services Network LLC bought a new stake in Agree Realty during the third quarter valued at about $59,000. Finally, Danske Bank A S purchased a new stake in Agree Realty in the third quarter worth about $64,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADC shares. Mizuho dropped their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley set a $81.00 price objective on Agree Realty in a research report on Tuesday, April 21st. Weiss Ratings raised Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Royal Bank Of Canada upped their target price on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group began coverage on shares of Agree Realty in a research note on Monday, June 1st. They issued a “buy” rating and a $84.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned 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 a consensus target price of $83.88.

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.