Agree Realty Corporation (NYSE:ADC – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $83.7857.
A number of research firms recently weighed in on ADC. Citigroup boosted their price target on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Stifel Nicolaus upped their price target on Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. 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. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, BMO Capital Markets lowered Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target for the company. in a research report on Friday, April 17th.
View Our Latest Analysis on ADC
Agree Realty Stock Down 0.5%
Agree Realty (NYSE:ADC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Equities analysts predict that Agree Realty will post 4.44 EPS for the current fiscal year.
Agree Realty Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a $0.267 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. Agree Realty’s dividend payout ratio is 172.97%.
Insider Buying and Selling
In other news, CEO Joey Agree bought 13,295 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the acquisition, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at $50,909,668.05. This trade represents a 2.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the acquisition, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 14,191 shares of company stock valued at $1,069,944 over the last 90 days. Company insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On Agree Realty
Several institutional investors and hedge funds have recently bought and sold shares of ADC. Principal Financial Group Inc. boosted its holdings in Agree Realty by 80.8% in the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock valued at $309,266,000 after purchasing an additional 1,918,427 shares during the last quarter. Norges Bank acquired a new position in Agree Realty in the 4th quarter valued at about $116,114,000. Engineers Gate Manager LP boosted its holdings in Agree Realty by 3,043.2% in the 4th quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after purchasing an additional 1,144,617 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Agree Realty by 41.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock valued at $204,813,000 after purchasing an additional 826,719 shares during the last quarter. Finally, Rush Island Management LP acquired a new position in Agree Realty in the 1st quarter valued at about $51,065,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.
Agree Realty Company Profile
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.
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