Brokerages Set Agree Realty Corporation (NYSE:ADC) PT at $81.32

Shares of Agree Realty Corporation (NYSE:ADC) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $82.3182.

Several equities research analysts have recently weighed in on the company. UBS Group raised their target price on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday. Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 27th. Evercore cut their price objective on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Barclays boosted their price objective on shares of Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company upped their target price on shares of Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th.

Agree Realty Stock Down 0.3%

Shares of NYSE ADC opened at $79.60 on Tuesday. The business has a 50-day moving average of $75.54 and a two-hundred day moving average of $73.73. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 44.97, a price-to-earnings-growth ratio of 3.10 and a beta of 0.52. Agree Realty has a 1 year low of $68.98 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.262 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%. Agree Realty’s payout ratio is 177.40%.

Insider Buying and Selling at Agree Realty

In other news, Chairman Richard Agree bought 24,000 shares of Agree Realty stock in a transaction dated Friday, January 9th. The stock was acquired at an average cost of $70.67 per share, with a total value of $1,696,080.00. Following the acquisition, the chairman owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Rakolta, Jr. bought 15,000 shares of Agree Realty stock in a transaction dated Wednesday, December 24th. The stock was purchased at an average cost of $72.18 per share, with a total value of $1,082,700.00. Following the completion of the acquisition, the director directly owned 562,606 shares in the company, valued at approximately $40,608,901.08. The trade was a 2.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 39,500 shares of company stock worth $2,813,680 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADC. Clearstead Trust LLC lifted its stake in Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 242 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of Agree Realty by 100.0% during the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 215 shares during the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Agree Realty during the third quarter worth approximately $32,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 192 shares during the period. Finally, Clearstead Advisors LLC raised its position in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.