Agree Realty Corporation (NYSE:ADC – Get Free Report) insider Craig Erlich acquired 1,000 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was purchased at an average price of $67.55 per share, for a total transaction of $67,550.00. Following the transaction, the insider directly owned 60,388 shares of the company’s stock, valued at approximately $4,079,209.40. This trade represents a 1.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Agree Realty Trading Down 0.5%
NYSE ADC opened at $67.29 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. Agree Realty Corporation has a fifty-two week low of $67.15 and a fifty-two week high of $82.08. The stock has a market cap of $8.37 billion, a P/E ratio of 36.18, a price-to-earnings-growth ratio of 2.21 and a beta of 0.46. The stock has a 50 day simple moving average of $74.74 and a two-hundred day simple moving average of $75.82.
Agree Realty (NYSE:ADC – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The business had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current year.
Agree Realty Announces Dividend
Hedge Funds Weigh In On Agree Realty
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Agree Realty during the 2nd quarter valued at about $1,447,551,000. Cohen & Steers Inc. lifted its position in Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after purchasing an additional 649,301 shares during the period. Principal Financial Group Inc. boosted its holdings in Agree Realty by 5.4% in the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock worth $341,180,000 after purchasing an additional 232,532 shares during the last quarter. Centersquare Investment Management LLC grew its position in Agree Realty by 13.9% in the 4th quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock worth $237,639,000 after purchasing an additional 402,943 shares during the period. Finally, Geode Capital Management LLC grew its position in Agree Realty by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 2,509,922 shares of the real estate investment trust’s stock worth $180,823,000 after purchasing an additional 117,346 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on ADC shares. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Barclays raised their price objective on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Huntington initiated coverage on Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 target price on the stock. Weiss Ratings cut Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. Finally, Mizuho reduced their price target on Agree Realty from $80.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $83.25.
View Our Latest Analysis on Agree Realty
About Agree Realty
Agree Realty Corporation (NYSE: ADC) is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.
Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty’s portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.
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