Agree Realty (ADC) Scheduled to Post Quarterly Earnings on Tuesday

Agree Realty (NYSE:ADC) will be announcing its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.01 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Agree Realty Stock Performance

Shares of NYSE ADC opened at $55.69 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $56.77 and its two-hundred day moving average price is $58.18. Agree Realty has a 52-week low of $52.69 and a 52-week high of $69.26. The stock has a market capitalization of $5.60 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.60 and a beta of 0.52.

Agree Realty Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a $0.25 dividend. This is an increase from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a dividend yield of 5.39%. Agree Realty’s dividend payout ratio (DPR) is 173.10%.

Analyst Ratings Changes

Several brokerages have weighed in on ADC. Wells Fargo & Company dropped their target price on Agree Realty from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Truist Financial cut their price objective on shares of Agree Realty from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. BMO Capital Markets started coverage on shares of Agree Realty in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $69.00 target price for the company. JMP Securities upgraded Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Monday, January 22nd. Finally, Stifel Nicolaus decreased their price objective on Agree Realty from $70.00 to $69.50 and set a “buy” rating for the company in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.61.

Insider Buying and Selling

In other Agree Realty news, CEO Joey Agree purchased 2,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $57.56 per share, with a total value of $115,120.00. Following the acquisition, the chief executive officer now owns 557,903 shares of the company’s stock, valued at $32,112,896.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Joey Agree purchased 2,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $57.56 per share, with a total value of $115,120.00. Following the completion of the acquisition, the chief executive officer now owns 557,903 shares of the company’s stock, valued at $32,112,896.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard Agree acquired 16,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $55.50 per share, with a total value of $888,000.00. Following the transaction, the chairman now directly owns 135,855 shares in the company, valued at approximately $7,539,952.50. The disclosure for this purchase can be found here. Insiders have bought a total of 42,482 shares of company stock valued at $2,397,572 over the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ensign Peak Advisors Inc boosted its stake in shares of Agree Realty by 0.7% during the 1st quarter. Ensign Peak Advisors Inc now owns 23,042 shares of the real estate investment trust’s stock valued at $1,581,000 after buying an additional 150 shares during the period. Baird Financial Group Inc. boosted its position in Agree Realty by 2.6% during the fourth quarter. Baird Financial Group Inc. now owns 6,812 shares of the real estate investment trust’s stock valued at $484,000 after purchasing an additional 171 shares during the last quarter. State of Wyoming grew its stake in Agree Realty by 34.8% in the second quarter. State of Wyoming now owns 666 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 172 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Agree Realty by 3.5% in the first quarter. Ameritas Investment Partners Inc. now owns 5,457 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 183 shares in the last quarter. Finally, First National Bank of Omaha raised its stake in shares of Agree Realty by 0.7% during the 2nd quarter. First National Bank of Omaha now owns 28,520 shares of the real estate investment trust’s stock worth $1,865,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.