Agree Realty Corporation (NYSE:ADC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Agree Realty Corporation (NYSE:ADC) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $80.7308.

ADC has been the subject of several research analyst reports. Mizuho decreased their price target on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. KeyCorp boosted their target price on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. UBS Group raised their price target on Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their target price on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd.

Insider Activity at Agree Realty

In other news, Director John Rakolta, Jr. bought 25,154 shares of the stock in a transaction on Tuesday, October 7th. The stock was purchased at an average price of $70.41 per share, for a total transaction of $1,771,093.14. Following the acquisition, the director owned 553,700 shares in the company, valued at approximately $38,986,017. This trade represents a 4.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Greg Lehmkuhl purchased 750 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was purchased at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the acquisition, the director owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. This represents a 2.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 31,892 shares of company stock valued at $2,251,776. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in shares of Agree Realty during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its holdings 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. Westside Investment Management Inc. grew its position in Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 215 shares in the last quarter. SVB Wealth LLC bought a new position in Agree Realty in the first quarter valued at $33,000. Finally, Cornerstone Planning Group LLC increased its stake in Agree Realty by 1,513.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 454 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $73.77 on Wednesday. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 2.28 and a beta of 0.55. The firm’s 50 day simple moving average is $72.54 and its 200 day simple moving average is $73.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.68 and a quick ratio of 0.68. Agree Realty has a fifty-two week low of $67.58 and a fifty-two week high of $79.65.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, sell-side analysts forecast that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 4.3%. Agree Realty’s dividend payout ratio is currently 183.63%.

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.