John Rakolta, Jr. Acquires 20,000 Shares of Agree Realty (NYSE:ADC) Stock

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. bought 20,000 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was bought at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the completion of the purchase, the director directly owned 622,061 shares in the company, valued at approximately $45,553,527.03. The trade was a 3.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Agree Realty Stock Up 0.4%

NYSE ADC opened at $72.53 on Wednesday. The business’s fifty day simple moving average is $76.72 and its 200-day simple moving average is $76.72. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The firm has a market cap of $9.02 billion, a PE ratio of 38.99, a P/E/G ratio of 2.36 and a beta of 0.46. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The firm had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. During the same period in the prior year, the company posted $1.06 EPS. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Agree Realty’s dividend payout ratio (DPR) is currently 172.04%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADC. Robert W. Baird set a $83.00 price objective on Agree Realty in a research report on Friday, July 31st. Weiss Ratings raised Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Jefferies Financial Group assumed coverage on Agree Realty in a research report on Monday, June 1st. They set a “buy” rating and a $84.00 price objective for the company. Finally, Mizuho reduced their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.94.

Hedge Funds Weigh In On Agree Realty

Several institutional investors have recently bought and sold shares of ADC. BlackRock Inc. purchased a new position in shares of Agree Realty in the second quarter valued at approximately $1,447,551,000. Cohen & Steers Inc. lifted 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 worth $1,015,324,000 after buying an additional 649,301 shares in the last quarter. California State Teachers Retirement System boosted its position in Agree Realty by 7,473.6% in the 2nd quarter. California State Teachers Retirement System now owns 10,617,309 shares of the real estate investment trust’s stock valued at $804,155,000 after buying an additional 10,477,120 shares during the period. State Street Corp boosted 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 buying an additional 91,766 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of 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 acquiring an additional 232,532 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

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.