Agree Realty (NYSE:ADC) Chairman Richard Agree Acquires 5,000 Shares

Agree Realty Corporation (NYSE:ADC) Chairman Richard Agree purchased 5,000 shares of the stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $71.41 per share, with a total value of $357,050.00. Following the acquisition, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Agree Realty Stock Down 0.1%

ADC opened at $73.31 on Tuesday. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 2.47 and a beta of 0.48. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. 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 business has a 50-day moving average of $75.95 and a two-hundred day moving average of $75.24.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, research analysts expect that Agree Realty Corporation will post 4.44 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a $0.267 dividend. This represents a $1.07 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty’s payout ratio is currently 172.97%.

Hedge Funds Weigh In On Agree Realty

Several hedge funds and other institutional investors have recently bought and sold shares of ADC. Principal Financial Group Inc. lifted its position in Agree Realty by 80.8% during the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock worth $309,266,000 after acquiring an additional 1,918,427 shares in the last quarter. Norges Bank acquired a new position in shares of Agree Realty in the 4th quarter valued at approximately $116,114,000. Engineers Gate Manager LP raised its position in shares of Agree Realty by 3,043.2% in the 4th quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after purchasing an additional 1,144,617 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Agree Realty by 41.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock valued at $204,813,000 after purchasing an additional 826,719 shares in the last quarter. Finally, Rush Island Management LP acquired a new position in shares of Agree Realty in the 1st quarter valued at approximately $51,065,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ADC shares. Weiss Ratings raised Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. UBS Group lifted their price objective on Agree Realty from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Mizuho reduced their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Truist Financial boosted their price target on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Finally, Royal Bank Of Canada boosted their price target on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $83.80.

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.