Craig Erlich Purchases 360 Shares of Agree Realty (NYSE:ADC) Stock

Agree Realty Corporation (NYSE:ADC) insider Craig Erlich purchased 360 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was acquired at an average price of $70.84 per share, with a total value of $25,502.40. Following the completion of the transaction, the insider owned 52,846 shares in the company, valued at approximately $3,743,610.64. This trade represents a 0.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Agree Realty Stock Down 0.3%

Shares of ADC opened at $70.50 on Monday. The stock’s 50-day moving average price is $72.41 and its two-hundred day moving average price is $73.85. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a 12 month low of $67.58 and a 12 month high of $79.65. The company has a market capitalization of $7.80 billion, a PE ratio of 41.97, a PEG ratio of 2.29 and a beta of 0.55.

Agree Realty (NYSE:ADC) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.The business had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. During the same period in the previous year, the company posted $1.04 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, analysts anticipate that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.256 per share. This represents a dividend yield of 432.0%. The ex-dividend date is Tuesday, September 30th. Agree Realty’s dividend payout ratio (DPR) is currently 182.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ADC shares. Truist Financial set a $84.00 target price on shares of Agree Realty in a report on Friday, August 8th. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. JMP Securities restated a “market perform” rating on shares of Agree Realty in a report on Monday, June 30th. Mizuho decreased their price target on Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Evercore ISI increased their price target on Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.63.

Institutional Investors Weigh In On Agree Realty

Hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new position in Agree Realty during the first quarter valued at about $27,000. Farther Finance Advisors LLC boosted its stake in Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 306 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Agree Realty during the 1st quarter valued at approximately $33,000. Capital Advisors Ltd. LLC grew its position in shares of Agree Realty by 137.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 270 shares during the period. Finally, NBC Securities Inc. purchased a new stake in shares of Agree Realty during the 1st quarter worth approximately $39,000. 97.83% of the stock is currently owned by institutional investors.

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.