Agree Realty (NYSE:ADC) Director John Rakolta, Jr. Purchases 25,154 Shares of Stock

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. acquired 25,154 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The stock was bought at an average cost of $70.41 per share, with a total value of $1,771,093.14. Following the completion of the transaction, the director directly owned 553,700 shares in the company, valued at $38,986,017. The trade was a 4.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $70.62 on Friday. The firm has a market capitalization of $7.82 billion, a P/E ratio of 42.04, a PEG ratio of 2.29 and a beta of 0.55. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $72.24 and a 200 day moving average price of $73.73. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. The firm had revenue of $175.53 million during the quarter, compared to analyst estimates of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. Agree Realty’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Sell-side analysts expect that Agree Realty Corporation will post 4.27 EPS 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. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.256 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 432.0%. Agree Realty’s dividend payout ratio (DPR) is presently 182.74%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADC shares. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Morgan Stanley lowered Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price objective on the stock. in a report on Friday, July 11th. JMP Securities restated a “market perform” rating on shares of Agree Realty in a report on Monday, June 30th. Evercore ISI raised their price objective on Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Finally, UBS Group raised their price objective on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.63.

Hedge Funds Weigh In On Agree Realty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new position in shares of Agree Realty during the first quarter worth about $27,000. Farther Finance Advisors LLC lifted its stake in Agree Realty by 408.0% during the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 306 shares during the last quarter. SVB Wealth LLC purchased a new stake in Agree Realty during the first quarter worth approximately $33,000. Capital Advisors Ltd. LLC lifted its stake in 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 purchasing an additional 270 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in Agree Realty during the first quarter worth approximately $39,000. 97.83% of the stock is owned by institutional investors and hedge funds.

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.