Agree Realty Corporation (NYSE:ADC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Agree Realty Corporation (NYSE:ADC) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $84.3571.

ADC has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Raymond James Financial upped their price objective on Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, March 17th. UBS Group upped their price objective on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. BMO Capital Markets cut Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective for the company. in a research note on Friday, April 17th. Finally, Barclays upped their price objective on Agree Realty from $81.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st.

Institutional Investors Weigh In On Agree Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADC. Jane Street Group LLC raised its stake in Agree Realty by 268.9% in the first quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock valued at $2,112,000 after buying an additional 19,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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 buying an additional 356 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Agree Realty in the second quarter valued at about $1,875,000. EverSource Wealth Advisors LLC raised its stake in Agree Realty by 245.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 965 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Agree Realty by 46.8% in the second quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust’s stock valued at $5,421,000 after buying an additional 23,662 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Trading Down 0.0%

Shares of NYSE ADC opened at $75.97 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $9.12 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 2.60 and a beta of 0.50. Agree Realty has a 1-year low of $69.56 and a 1-year high of $82.08. The business has a fifty day moving average price of $78.01 and a 200 day moving average price of $75.08.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Equities research analysts expect that Agree Realty will post 4.43 EPS for the current fiscal year.

Agree Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a $0.267 dividend. This represents a c) dividend on an annualized basis and a yield of 4.2%. This is a boost from Agree Realty’s previous monthly dividend of $0.26. The ex-dividend date is Thursday, April 30th. Agree Realty’s dividend payout ratio (DPR) is 172.97%.

Agree Realty Company Profile

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.