Joey Agree Purchases 3,528 Shares of Agree Realty (NYSE:ADC) Stock

Agree Realty Corporation (NYSE:ADC) CEO Joey Agree bought 3,528 shares of Agree Realty stock in a transaction dated Thursday, October 2nd. The stock was acquired at an average price of $70.63 per share, with a total value of $249,182.64. Following the acquisition, the chief executive officer directly owned 638,688 shares of the company’s stock, valued at approximately $45,110,533.44. This represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Joey Agree also recently made the following trade(s):

• On Thursday, August 14th, Joey Agree purchased 2,100 shares of Agree Realty stock. The shares were acquired at an average cost of $72.08 per share, for a total transaction of $151,368.00.
• On Wednesday, August 13th, Joey Agree acquired 742 shares of Agree Realty stock. The stock was acquired at an average cost of $72.15 per share, with a total value of $53,535.30.
• On Wednesday, August 13th, Joey Agree acquired 4,108 shares of Agree Realty stock. The shares were acquired at an average price of $72.15 per share, with a total value of $296,392.20.

Agree Realty Price Performance

Shares of ADC opened at $70.50 on Monday. The business’s 50-day moving average is $72.41 and its 200-day moving average is $73.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 2.29 and a beta of 0.55. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two 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 analysts’ consensus estimates of $1.05 by $0.01. The firm had revenue of $175.53 million for the quarter, compared to the consensus estimate of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Equities research analysts expect that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a $0.256 dividend. 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 is 182.74%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. acquired a new position in shares of Agree Realty during the first quarter worth approximately $27,000. Farther Finance Advisors LLC increased its position 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 acquiring an additional 306 shares during the period. SVB Wealth LLC acquired a new position in Agree Realty during the 1st quarter valued at $33,000. Capital Advisors Ltd. LLC boosted its holdings in Agree Realty by 137.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 270 shares during the period. Finally, NBC Securities Inc. acquired a new stake in Agree Realty in the 1st quarter worth $39,000. 97.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ADC. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a research note on Saturday, September 27th. Morgan Stanley cut Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price target for the company. in a research note on Friday, July 11th. Truist Financial set a $84.00 price objective on shares of Agree Realty in a research report on Friday, August 8th. Barclays decreased their target price on shares of Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 20th. Finally, JMP Securities restated a “market perform” rating on shares of Agree Realty in a research note on Monday, June 30th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.63.

Agree Realty Company Profile

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.