Evercore ISI Issues Positive Forecast for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its price target upped by Evercore ISI from $83.00 to $85.00 in a research note issued to investors on Monday, Marketbeat reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the stock. Truist Financial set a $84.00 price target on shares of Agree Realty in a report on Friday, August 8th. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. Barclays dropped their price objective on shares of Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, August 20th. Finally, Mizuho lowered their target price on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and an average target price of $80.58.

Agree Realty Price Performance

Agree Realty stock opened at $72.92 on Monday. Agree Realty has a 12-month low of $67.58 and a 12-month high of $79.65. The firm has a 50-day moving average price of $72.72 and a 200-day moving average price of $74.31. The firm has a market capitalization of $8.07 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 2.44 and a beta of 0.56. 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 (NYSE:ADC) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The firm had revenue of $175.53 million for the quarter, compared to the consensus estimate of $173.95 million. During the same period last year, the firm earned $1.04 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, equities research analysts forecast that Agree Realty will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.256 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a yield of 430.0%. Agree Realty’s dividend payout ratio (DPR) is presently 182.74%.

Insider Buying and Selling

In related news, Director Greg Lehmkuhl acquired 750 shares of the business’s stock in a transaction on Friday, September 5th. The shares were bought at an average price of $72.84 per share, with a total value of $54,630.00. Following the completion of the acquisition, the director owned 27,684 shares in the company, valued at $2,016,502.56. This trade represents a 2.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joey Agree bought 2,100 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $72.08 per share, for a total transaction of $151,368.00. Following the completion of the acquisition, the chief executive officer directly owned 635,160 shares in the company, valued at approximately $45,782,332.80. This trade represents a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 7,700 shares of company stock worth $555,926. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Agree Realty

Hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. increased its stake in Agree Realty by 7.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,961 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 132 shares during the period. Sequoia Financial Advisors LLC increased its stake in Agree Realty by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 139 shares during the period. Azzad Asset Management Inc. ADV increased its stake in Agree Realty by 2.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,884 shares of the real estate investment trust’s stock valued at $531,000 after buying an additional 187 shares during the period. Corient Private Wealth LLC boosted its position in shares of Agree Realty by 3.4% during the 2nd quarter. Corient Private Wealth LLC now owns 6,217 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 204 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its position in shares of Agree Realty by 0.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 26,280 shares of the real estate investment trust’s stock worth $1,920,000 after purchasing an additional 222 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other 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.