Analysts Set Agree Realty Corporation (NYSE:ADC) PT at $83.80

Shares of Agree Realty Corporation (NYSE:ADC) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $83.8125.

A number of equities analysts recently issued reports on ADC shares. Royal Bank Of Canada upped their price target on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets cut shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a report on Friday, April 17th. Mizuho dropped their target price on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Agree Realty in a research report on Thursday, July 2nd. Finally, Citigroup upped their price objective on Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research report on Friday, April 24th.

Insider Activity

In other news, Chairman Richard Agree purchased 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $71.41 per share, with a total value of $357,050.00. Following the completion of the acquisition, the chairman directly owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $75.09 per share, with a total value of $56,317.50. Following the acquisition, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. This trade represents a 2.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 19,045 shares of company stock valued at $1,415,943 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Agree Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Agree Realty by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after purchasing an additional 84,568 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in Agree Realty by 4.8% during the 4th 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 acquiring an additional 649,301 shares during the period. State Street Corp grew its position in Agree Realty by 1.6% in the 4th quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock valued at $425,350,000 after acquiring an additional 91,766 shares during the last quarter. Principal Financial Group Inc. increased its stake 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 period. Finally, Centersquare Investment Management LLC grew its stake 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 acquiring an additional 402,943 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $81.16 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Agree Realty has a one year low of $69.56 and a one year high of $82.08. The business’s 50 day simple moving average is $75.64 and its two-hundred day simple moving average is $75.89. The stock has a market capitalization of $9.75 billion, a P/E ratio of 43.87, a price-to-earnings-growth ratio of 2.68 and a beta of 0.47.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. During the same quarter in the prior year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Analysts forecast that Agree Realty will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.267 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, July 31st. Agree Realty’s dividend payout ratio (DPR) is presently 172.97%.

About Agree Realty

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.