Agree Realty (NYSE:ADC) Director Purchases $1,375,600.00 in Stock

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of $68.78 per share, for a total transaction of $1,375,600.00. Following the completion of the purchase, the director directly owned 654,602 shares in the company, valued at approximately $45,023,525.56. This trade represents a 3.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Agree Realty Stock Performance

NYSE:ADC opened at $68.57 on Thursday. The firm has a market cap of $8.53 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. Agree Realty Corporation has a fifty-two week low of $67.93 and a fifty-two week high of $82.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50 day moving average price of $75.56 and a 200-day moving average price of $76.20.

Agree Realty (NYSE:ADC) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly 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. Equities research analysts predict that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

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 given a $0.267 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. Agree Realty’s payout ratio is presently 172.04%.

Analyst Ratings Changes

A number of research firms have commented on ADC. Robert W. Baird set a $83.00 price target on Agree Realty in a research report on Friday, July 31st. Barclays boosted their target price on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. Jefferies Financial Group initiated coverage on Agree Realty in a research note on Monday, June 1st. They issued a “buy” rating and a $84.00 price target for the company. Finally, Huntington assumed coverage on shares of Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pasadena Private Wealth LLC bought a new position in Agree Realty in the 4th quarter valued at approximately $1,349,000. Lasalle Investment Management Securities LLC raised its position in Agree Realty by 6.2% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock worth $48,586,000 after buying an additional 39,119 shares during the last quarter. Vision Capital Corp purchased a new stake in shares of Agree Realty during the 4th quarter valued at about $3,920,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 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 purchasing an additional 54,478 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Agree Realty by 6,172.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after purchasing an additional 99,003 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

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.