Agree Realty (NYSE:ADC) Raised to “Hold” at Wall Street Zen

Agree Realty (NYSE:ADC) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms also recently weighed in on ADC. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a research report on Friday, April 17th. Royal Bank Of Canada increased their price target on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Mizuho lowered their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Barclays lowered their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 19th. Finally, Huntington started coverage on shares of Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Agree Realty Trading Up 0.0%

ADC opened at $81.16 on Friday. Agree Realty has a 52 week low of $69.56 and a 52 week high of $82.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $75.64 and a 200-day simple moving average of $75.91. The firm has a market cap of $9.75 billion, a P/E ratio of 43.87, a P/E/G ratio of 2.70 and a beta of 0.47.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities analysts expect that Agree Realty will post 4.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Joey Agree bought 13,295 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the purchase, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at $50,909,668.05. This trade represents a 2.01% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Richard Agree purchased 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the acquisition, the chairman 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 SEC filing for this purchase provides additional information. Insiders purchased 19,045 shares of company stock valued at $1,415,943 in the last three months. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Agree Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Agree Realty by 10.3% during the second quarter. GAMMA Investing LLC now owns 5,383 shares of the real estate investment trust’s stock worth $408,000 after buying an additional 501 shares during the period. CoreCap Advisors LLC raised its holdings in Agree Realty by 9.2% in the second quarter. CoreCap Advisors LLC now owns 80,269 shares of the real estate investment trust’s stock valued at $6,080,000 after acquiring an additional 6,753 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Agree Realty by 5.6% in the first quarter. Pacer Advisors Inc. now owns 14,230 shares of the real estate investment trust’s stock worth $1,073,000 after acquiring an additional 751 shares during the last quarter. Integrated Investment Consultants LLC lifted its stake in Agree Realty by 3.4% in the first quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust’s stock worth $435,000 after acquiring an additional 192 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Agree Realty by 65.4% during the 1st quarter. Bank of America Corp DE now owns 1,526,561 shares of the real estate investment trust’s stock worth $115,072,000 after acquiring an additional 603,480 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

About Agree Realty

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.