Agree Realty (NYSE:ADC) Research Coverage Started at Huntington

Huntington assumed coverage on shares of Agree Realty (NYSE:ADC) in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $84.00 price target on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on ADC. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Robert W. Baird increased their target price on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a report on Tuesday, April 21st. Barclays reduced their target price on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, May 19th. Finally, BMO Capital Markets lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target on the stock. in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Agree Realty presently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Agree Realty Trading Up 0.5%

Shares of ADC stock opened at $81.16 on Wednesday. The stock has a 50-day simple moving average of $75.64 and a 200 day simple moving average of $75.89. Agree Realty has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The stock has a market capitalization of $9.75 billion, a P/E ratio of 43.87, a P/E/G ratio of 2.68 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same period in the previous year, the company earned $0.42 earnings per share. Agree Realty’s revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, sell-side analysts expect that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.267 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%. Agree Realty’s dividend payout ratio (DPR) is currently 172.97%.

Insiders Place Their Bets

In other news, CEO Joey Agree bought 13,295 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. This represents a 2.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the transaction, the director owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This represents a 2.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 19,045 shares of company stock worth $1,415,943. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Agree Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in Agree Realty by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 145 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Agree Realty by 2.7% during the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 154 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of Agree Realty by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 154 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 171 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in shares of Agree Realty by 0.9% in the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock valued at $1,402,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.