Agree Realty (NYSE:ADC) Stock Gets Price Target Trim from Citigroup

Agree Realty (NYSE:ADC) had its target price lowered by Citigroup from $82.50 to $72.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

ADC has been the topic of several other reports. Barclays reduced their price target on Agree Realty from $85.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 20th. Huntington initiated coverage on Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target for the company. Mizuho reduced their price objective on shares of Agree Realty from $80.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, September 17th. BNP Paribas Exane decreased their target price on Agree Realty from $84.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, October 21st. Finally, Stifel Nicolaus decreased their price target on shares of Agree Realty from $81.50 to $76.50 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.09.

Agree Realty Trading Up 0.1%

Shares of ADC opened at $66.78 on Friday. Agree Realty has a 52-week low of $64.34 and a 52-week high of $82.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average is $69.39 and its 200-day moving average is $73.99. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 2.96 and a beta of 0.42.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, October 20th. The real estate investment trust reported $1.15 EPS for the quarter, topping the consensus estimate of $0.47 by $0.68. The firm had revenue of $213.88 million during the quarter, compared to the consensus estimate of $211.52 million. Agree Realty had a return on equity of 4.00% and a net margin of 29.75%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Equities analysts anticipate that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $0.2710 per share. This represents a $3.25 dividend on an annualized basis and a yield of 4.9%. This is a boost from Agree Realty’s previous monthly dividend of $0.2670. The ex-dividend date is Friday, October 30th. Agree Realty’s dividend payout ratio is 164.95%.

Insider Transactions at Agree Realty

In related news, Director John Rakolta, Jr. purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average price of $68.78 per share, with a total value of $1,375,600.00. Following the acquisition, the director owned 654,602 shares of the company’s stock, valued at $45,023,525.56. This trade represents a 3.15% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joey Agree bought 7,360 shares of the stock in a transaction on Wednesday, September 16th. The stock was purchased at an average price of $68.06 per share, for a total transaction of $500,921.60. Following the completion of the purchase, the chief executive officer owned 682,465 shares of the company’s stock, valued at approximately $46,448,567.90. This trade represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 48,496 shares of company stock worth $3,418,670 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Agree Realty by 159.8% during the second quarter. Wellington Management Group LLP now owns 184,545 shares of the real estate investment trust’s stock valued at $13,977,000 after buying an additional 113,520 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Agree Realty by 7.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock valued at $58,916,000 after buying an additional 54,478 shares during the period. Readystate Asset Management LP purchased a new position in Agree Realty during the second quarter worth about $2,384,000. Hsbc Holdings PLC grew its position in Agree Realty by 25.5% during the fourth quarter. Hsbc Holdings PLC now owns 295,693 shares of the real estate investment trust’s stock worth $21,299,000 after buying an additional 60,159 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Agree Realty during the first quarter worth about $2,616,000. 97.83% of the stock is currently owned by institutional investors.

Trending Headlines about Agree Realty

Here are the key news stories impacting Agree Realty this week:

• Positive Sentiment: RBC Capital maintained a Buy rating on Agree Realty, signaling continued confidence in the REIT’s long-term income and growth prospects. RBC Capital Remains a Buy on Agree Realty
• Positive Sentiment: Third-quarter results exceeded expectations, with revenue rising 16.7% year over year to $213.9 million and reported EPS of $1.15 versus the $0.47 consensus estimate. Management also raised its AFFO outlook, supporting the company’s dividend and valuation case. Agree Realty Q3 Earnings Lift AFFO Outlook
• Positive Sentiment: Agree Realty’s retail portfolio reached 99.8% occupancy in the third quarter, highlighting resilient tenant demand and stable rental cash flows. The company also increased its dividend, strengthening its appeal to income-focused investors. Agree Realty: 3 Key Takeaways
• Neutral Sentiment: An analysis argues that the selloff has created a more attractive income opportunity, but investors still must weigh interest-rate sensitivity and the REIT’s funding requirements. The Selloff Has Created an Attractive Income Opportunity
• Negative Sentiment: Citigroup lowered its price target from $82.50 to $72 and assigned a Neutral rating, reflecting limited expected upside and concerns about valuation or financing conditions. Citigroup recommendations
• Negative Sentiment: BNP Paribas Exane cut its price target, while Robert W. Baird issued a pessimistic forecast. These revisions add to the negative analyst sentiment surrounding ADC. BNP Paribas Exane price target cut Baird forecast
• Negative Sentiment: Management reduced its 2026 investment-volume guidance to $1.6 billion, and analysts continue to flag funding risks. Slower acquisition activity could constrain Agree Realty’s external growth. Agree Realty Q3 Earnings

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) that acquires, develops, and manages retail properties across the United States. The company primarily uses a net-lease structure, under which tenants generally are responsible for property-level operating expenses such as taxes, insurance, and maintenance.

Its portfolio is focused mainly on essential retail properties occupied by nationally recognized and regional tenants, including grocery stores, home improvement retailers, dollar stores, pharmacies, and other necessity-based businesses.