Agree Realty (NYSE:ADC) Price Target Lowered to $75.00 at Mizuho

Agree Realty (NYSE:ADC) had its target price cut by Mizuho from $77.00 to $75.00 in a research report released on Wednesday, Marketbeat reports. They currently have a neutral rating on the real estate investment trust’s stock.

ADC has been the subject of several other reports. Stifel Nicolaus set a $83.50 target price on Agree Realty in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. KeyCorp boosted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Finally, Evercore ISI cut their target price on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.32.

Agree Realty Stock Up 1.6%

Shares of Agree Realty stock opened at $72.20 on Wednesday. Agree Realty has a 1-year low of $67.58 and a 1-year high of $79.65. The company has a market capitalization of $8.30 billion, a PE ratio of 42.22, a P/E/G ratio of 2.31 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.68 and a quick ratio of 0.68. The business has a 50-day moving average of $73.53 and a 200-day moving average of $73.05.

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

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.262 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 4.4%. Agree Realty’s dividend payout ratio is 183.63%.

Insider Buying and Selling

In related news, Director John Rakolta, Jr. acquired 25,154 shares of Agree Realty stock in a transaction that occurred on Tuesday, October 7th. The stock was acquired at an average price of $70.41 per share, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Erlich bought 360 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was bought at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the transaction, the insider directly owned 52,846 shares of the company’s stock, valued at $3,743,610.64. This trade represents a 0.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 29,042 shares of company stock valued at $2,045,778. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of Agree Realty by 408.0% during the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 306 shares during the last quarter. SVB Wealth LLC acquired a new position in Agree Realty during the 1st quarter worth $33,000. Westside Investment Management Inc. grew its stake in shares of Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Agree Realty during the third quarter valued at $32,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Agree Realty by 1,513.3% during the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 454 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

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.