Agree Realty Corporation (NYSE:ADC) Given Consensus Rating of “Moderate Buy” by Brokerages

Agree Realty Corporation (NYSE:ADC) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $81.2083.

ADC has been the subject of a number of recent research reports. Mizuho dropped their price target 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. Wells Fargo & Company lifted their price objective on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Barclays decreased 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, Stifel Nicolaus set a $83.50 price target on Agree Realty in a report on Tuesday.

Insider Buying and Selling

In related news, Director John Rakolta, Jr. purchased 25,154 shares of the stock in a transaction on Tuesday, October 7th. The shares were purchased at an average price of $70.41 per share, with a total value of $1,771,093.14. Following the transaction, the director directly owned 553,700 shares of the company’s stock, valued at $38,986,017. This trade represents a 4.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was purchased at an average cost of $72.84 per share, for a total transaction 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 29,792 shares of company stock worth $2,100,408. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADC. Mutual of America Capital Management LLC lifted its stake in shares of Agree Realty by 1.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 55,086 shares of the real estate investment trust’s stock valued at $4,252,000 after acquiring an additional 519 shares during the last quarter. Cetera Investment Advisers grew its position in Agree Realty by 10.0% in the 1st quarter. Cetera Investment Advisers now owns 30,671 shares of the real estate investment trust’s stock valued at $2,368,000 after purchasing an additional 2,781 shares during the period. LPL Financial LLC increased its position in shares of Agree Realty by 12.4% during the first quarter. LPL Financial LLC now owns 44,238 shares of the real estate investment trust’s stock worth $3,415,000 after acquiring an additional 4,896 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Agree Realty by 3.2% in the first quarter. Federated Hermes Inc. now owns 13,415 shares of the real estate investment trust’s stock valued at $1,036,000 after purchasing an additional 417 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Agree Realty by 28.7% during the 1st quarter. XTX Topco Ltd now owns 10,179 shares of the real estate investment trust’s stock valued at $786,000 after acquiring an additional 2,267 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Up 0.1%

Shares of ADC opened at $75.25 on Friday. The business’s fifty day moving average price is $73.04 and its two-hundred day moving average price is $73.25. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 2.28 and a beta of 0.55. Agree Realty has a 52 week low of $67.58 and a 52 week high of $79.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. The business had revenue of $183.22 million for the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, analysts predict that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a dividend of $0.262 per share. The ex-dividend date is Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is presently 183.63%.

About Agree Realty

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.