Agree Realty (NYSE:ADC) Director John Rakolta, Jr. Purchases 15,000 Shares of Stock

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. acquired 15,000 shares of Agree Realty stock in a transaction on Wednesday, December 24th. The stock was purchased at an average price of $72.18 per share, with a total value of $1,082,700.00. Following the transaction, the director directly owned 562,606 shares in the company, valued at approximately $40,608,901.08. This trade represents a 2.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $72.51 on Tuesday. The firm has a market capitalization of $8.33 billion, a PE ratio of 42.40, a PEG ratio of 2.35 and a beta of 0.54. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a 1-year low of $67.58 and a 1-year high of $79.65. The business’s 50 day moving average is $73.35 and its 200-day moving average is $72.91.

Agree Realty (NYSE:ADC) last issued its 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 firm had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. During the same period last year, the business earned $1.03 earnings per share. Agree Realty’s quarterly 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. Sell-side analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.262 per share. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, December 31st. Agree Realty’s payout ratio is 183.63%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADC shares. Mizuho cut their price target on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Truist Financial cut their target price on Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Royal Bank Of Canada upped their price target on Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. Finally, Barclays boosted their target price on shares of Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 3rd. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.32.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of ADC. Farther Finance Advisors LLC increased its holdings in Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 306 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Agree Realty by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 215 shares during the last quarter. Wiser Advisor Group LLC bought a new position in Agree Realty during the 3rd quarter worth approximately $32,000. Cornerstone Planning Group LLC grew its holdings in 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 during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 356 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

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.