Agree Realty (NYSE:ADC) Stock: Insider Craig Erlich Purchases 1,000 Shares

Agree Realty Corporation (NYSE:ADC) insider Craig Erlich purchased 1,000 shares of Agree Realty stock in a transaction that occurred on Monday, September 21st. The shares were bought at an average price of $67.55 per share, with a total value of $67,550.00. Following the transaction, the insider owned 60,388 shares of the company’s stock, valued at $4,079,209.40. This trade represents a 1.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Agree Realty Stock Performance

NYSE ADC opened at $67.15 on Friday. The company has a market capitalization of $8.35 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.20 and a beta of 0.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. Agree Realty Corporation has a 52-week low of $66.50 and a 52-week high of $82.08. The company has a 50-day simple moving average of $74.26 and a 200 day simple moving average of $75.62.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The company had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.2670 per share. This represents a $3.20 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Agree Realty’s dividend payout ratio is 172.04%.

Analyst Ratings Changes

Several brokerages have issued reports on ADC. Mizuho lowered their target price on Agree Realty from $80.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Stifel Nicolaus cut their price target on Agree Realty from $84.00 to $81.50 and set a “buy” rating for the company in a research note on Friday, September 18th. Weiss Ratings lowered Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 17th. Robert W. Baird set a $83.00 price objective on Agree Realty in a research note on Friday, July 31st. Finally, Jefferies Financial Group assumed coverage on shares of Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.25.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Agree Realty in the second quarter valued at $1,447,551,000. Bank of America Corp DE purchased a new stake in Agree Realty during the 2nd quarter worth about $130,921,000. Norges Bank bought a new position in Agree Realty in the 4th quarter worth about $116,114,000. Deutsche Bank AG bought a new position in shares of Agree Realty in the second quarter valued at approximately $104,747,000. Finally, Canada Pension Plan Investment Board purchased a new position in Agree Realty during the second quarter valued at approximately $92,533,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty’s portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.