Key Points
- Insider purchase: Director John Rakolta, Jr. bought 15,000 shares on Dec. 24 at an average price of $72.18 for $1,082,700, bringing his total stake to 562,606 shares (valued at about $40.6M), a 2.74% increase in his position.
- Dividend announced: Agree Realty declared a monthly dividend of $0.262 per share (record date Dec. 31, payable Jan. 15), implying a 4.3% yield, though the dividend payout ratio is high at 183.63%.
- Valuation and outlook: The company has a market cap of $8.33B and a P/E of 42.4, issued FY2025 EPS guidance of $4.310–4.330 (analysts expect ~4.27), and carries a consensus rating of "Moderate Buy" with an average target of $80.32.
Agree Realty Corporation (NYSE:ADC - Get Free Report) Director John Rakolta, Jr. acquired 15,000 shares of the company's stock in a transaction that occurred on Wednesday, December 24th. The shares were acquired at an average cost of $72.18 per share, for a total transaction of $1,082,700.00. Following the purchase, the director directly owned 562,606 shares in the company, valued at $40,608,901.08. This trade represents a 2.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Agree Realty Stock Up 0.2%
NYSE:ADC opened at $72.51 on Tuesday. Agree Realty Corporation has a 1 year low of $67.58 and a 1 year high of $79.65. The stock has a 50-day moving average price of $73.35 and a two-hundred day moving average price of $72.91. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 2.35 and a beta of 0.54. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59.
Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.02. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The company had revenue of $183.22 million for the quarter, compared to analyst estimates of $181.87 million. During the same quarter last year, the firm posted $1.03 earnings per share. Agree Realty's revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, equities analysts expect that Agree Realty Corporation will post 4.27 earnings per share for the current year.
Agree Realty Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, December 31st. Agree Realty's dividend payout ratio (DPR) is presently 183.63%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ADC shares. Mizuho lowered their target price on Agree Realty from $77.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, December 17th. Barclays increased their price objective on Agree Realty from $77.00 to $78.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 3rd. KeyCorp boosted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, October 24th. Evercore ISI lowered their target price on Agree Realty from $85.00 to $83.00 and set an "outperform" rating on the stock in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Agree Realty in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.32.
Get Our Latest Stock Report on ADC
Institutional Investors Weigh In On Agree Realty
A number of institutional investors and hedge funds have recently modified their holdings of the company. Westwood Holdings Group Inc. bought a new position in shares of Agree Realty during the 2nd quarter worth approximately $65,376,000. Norges Bank bought a new position in Agree Realty during the second quarter worth $65,030,000. JPMorgan Chase & Co. increased its holdings in shares of Agree Realty by 65.6% in the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust's stock valued at $143,268,000 after purchasing an additional 799,185 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Agree Realty by 311.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 838,570 shares of the real estate investment trust's stock valued at $59,572,000 after purchasing an additional 634,520 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Agree Realty by 532.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 714,772 shares of the real estate investment trust's stock worth $50,777,000 after buying an additional 601,689 shares during the last quarter. 97.83% of the stock is owned by institutional investors.
Agree Realty Company Profile
(
Get Free Report)
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.
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