Mizuho Cuts Agree Realty (NYSE:ADC) Price Target to $72.00

Agree Realty (NYSE:ADC) had its target price cut by analysts at Mizuho from $80.00 to $72.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective points to a potential upside of 4.93% from the company’s current price.

Several other equities analysts also recently commented on the company. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a research note on Friday, July 31st. Huntington assumed coverage on shares of Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective for the company. Weiss Ratings upgraded shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th. Finally, Barclays lifted their target price on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.44.

Agree Realty Stock Performance

ADC opened at $68.62 on Thursday. The company has a market cap of $8.53 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. The stock has a 50-day moving average of $75.56 and a 200-day moving average of $76.20. Agree Realty has a 52-week low of $67.93 and a 52-week high of $82.08. 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 (NYSE:ADC) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share 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 company had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. During the same period in the previous year, the business posted $1.06 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities research analysts forecast that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Rakolta, Jr. bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average cost of $68.78 per share, with a total value of $1,375,600.00. Following the completion of the transaction, the director directly owned 654,602 shares in the company, valued at $45,023,525.56. This represents a 3.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joey Agree bought 7,360 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were purchased at an average cost of $68.06 per share, for a total transaction of $500,921.60. Following the completion of the transaction, the chief executive officer owned 682,465 shares of the company’s stock, valued at $46,448,567.90. This represents a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 47,496 shares of company stock valued at $3,351,120. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Agree Realty

A number of institutional investors and hedge funds have recently modified their holdings of ADC. Community Bank of Raymore lifted its position in Agree Realty by 11.5% in the second quarter. Community Bank of Raymore now owns 44,624 shares of the real estate investment trust’s stock worth $3,380,000 after purchasing an additional 4,600 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Agree Realty in the 2nd quarter valued at $51,000. NewEdge Advisors LLC raised its stake in shares of Agree Realty by 2,367.6% in the 2nd quarter. NewEdge Advisors LLC now owns 2,739 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 2,628 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Agree Realty by 103.4% in the 2nd quarter. Squarepoint Ops LLC now owns 86,373 shares of the real estate investment trust’s stock valued at $6,542,000 after buying an additional 43,912 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Agree Realty by 4.9% in the 2nd quarter. Arizona State Retirement System now owns 33,140 shares of the real estate investment trust’s stock valued at $2,510,000 after buying an additional 1,555 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

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.