Agree Realty (NYSE:ADC – Get Free Report) had its target price lowered by analysts at Wells Fargo & Company from $83.00 to $79.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 20.39% from the stock’s previous close.
ADC has been the subject of a number of other reports. Huntington assumed coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective for the company. Mizuho cut their target price on shares of Agree Realty from $80.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Barclays raised their target price on shares of Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Robert W. Baird set a $83.00 price target on shares of Agree Realty in a research note on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.56.
Check Out Our Latest Analysis on Agree Realty
Agree Realty Stock Down 2.1%
NYSE:ADC traded down $1.42 during midday trading on Monday, reaching $65.62. The company had a trading volume of 281,609 shares, compared to its average volume of 1,333,205. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 2.25 and a beta of 0.42. The stock’s fifty day simple moving average is $70.19 and its 200-day simple moving average is $74.33. Agree Realty has a 12-month low of $64.43 and a 12-month high of $82.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60.
Agree Realty (NYSE:ADC – Get Free Report) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%. The company had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter 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. On average, sell-side analysts anticipate that Agree Realty will post 4.45 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Agree Realty news, CEO Joey Agree acquired 7,360 shares of the stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of $68.06 per share, with a total value of $500,921.60. Following the transaction, the chief executive officer owned 682,465 shares in the company, valued at $46,448,567.90. The trade was a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Rakolta, Jr. acquired 20,000 shares of the stock in a transaction dated Wednesday, September 16th. The shares were acquired at an average cost of $68.78 per share, with a total value of $1,375,600.00. Following the completion of the transaction, the director owned 654,602 shares in the company, valued at approximately $45,023,525.56. This represents a 3.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 48,496 shares of company stock valued at $3,418,670 in the last ninety days. Insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On Agree Realty
Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its holdings in Agree Realty by 3.5% during the third quarter. State of Alaska Department of Revenue now owns 73,183 shares of the real estate investment trust’s stock worth $4,888,000 after purchasing an additional 2,446 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Agree Realty by 18.0% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 479,925 shares of the real estate investment trust’s stock valued at $32,064,000 after buying an additional 73,317 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Agree Realty by 11.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,159 shares of the real estate investment trust’s stock valued at $478,000 after buying an additional 739 shares in the last quarter. Elevation Wealth Partners LLC grew its position in shares of Agree Realty by 172.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 430 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 272 shares during the last quarter. Finally, Wealth Enhancement Trust Services Inc. purchased a new position in shares of Agree Realty in the 3rd quarter valued at $32,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
About Agree Realty
Agree Realty Corporation is a real estate investment trust (REIT) that acquires, develops, and manages retail properties across the United States. The company primarily uses a net-lease structure, under which tenants generally are responsible for property-level operating expenses such as taxes, insurance, and maintenance.
Its portfolio is focused mainly on essential retail properties occupied by nationally recognized and regional tenants, including grocery stores, home improvement retailers, dollar stores, pharmacies, and other necessity-based businesses.
Featured Stories
- Five stocks we like better than Agree Realty
- Mr. Wonderful’s Test for AI Data Center Stocks: Power, Permits, and Tenants
- Alcoa Beat Earnings, But Can It Escape the Aluminum Bears?
- Insider Buying Is Rising at These 3 Regional Banks, But the Details Matter
- Illinois Tool Works Faces Headwinds—2 Alternatives Stand Out
Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.com's FREE daily email newsletter.
