Agree Realty (NYSE:ADC) Sets New 52-Week Low – Should You Sell?

Agree Realty Corporation (NYSE:ADC)’s share price hit a new 52-week low during trading on Thursday. The company traded as low as $65.80 and last traded at $65.7840, with a volume of 129219 shares. The stock had previously closed at $66.81.

Analyst Ratings Changes

Several research firms have recently weighed in on ADC. Mizuho cut their target price on Agree Realty from $80.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th. Robert W. Baird set a $83.00 price target on Agree Realty in a research report on Friday, July 31st. Stifel Nicolaus dropped their price objective on shares of Agree Realty from $84.00 to $81.50 and set a “buy” rating for the company in a research note on Friday, September 18th. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Barclays increased their target price on shares of Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.25.

Agree Realty Stock Down 1.6%

The company has a 50-day simple moving average of $73.20 and a 200-day simple moving average of $75.26. The firm has a market cap of $8.18 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82.

Agree Realty (NYSE:ADC) last released its earnings results 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). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The business had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same period in the prior year, the company posted $1.06 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Analysts expect that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be given a $0.2670 dividend. This represents a $3.20 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Agree Realty’s dividend payout ratio is 172.04%.

Insiders Place Their Bets

In related news, Director John Rakolta, Jr. purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were purchased at an average cost of $68.78 per share, for a total transaction of $1,375,600.00. Following the completion of the acquisition, the director owned 654,602 shares in the company, valued at approximately $45,023,525.56. This trade represents a 3.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joey Agree purchased 7,360 shares of Agree Realty stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average cost of $68.06 per share, for a total transaction of $500,921.60. Following the purchase, the chief executive officer directly owned 682,465 shares in the company, valued at $46,448,567.90. This trade represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 48,496 shares of company stock worth $3,418,670 over the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

Several large investors have recently added to or reduced their stakes in ADC. Vision Capital Corp purchased a new stake in Agree Realty in the fourth quarter worth about $3,920,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Agree Realty by 7.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock worth $58,916,000 after acquiring an additional 54,478 shares in the last quarter. Westpac Banking Corp purchased a new position in Agree Realty during the 4th quarter valued at about $1,516,000. Louisiana State Employees Retirement System purchased a new position in Agree Realty during the 1st quarter valued at about $2,616,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Agree Realty by 25.5% in the 4th quarter. Hsbc Holdings PLC now owns 295,693 shares of the real estate investment trust’s stock valued at $21,299,000 after purchasing an additional 60,159 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

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.