Key Points
- Insider purchase: Director John Rakolta Jr. bought 146 shares on April 1 at an average price of $75.69, spending $11,050.74, as disclosed in an SEC Form 4.
- Dividend announced: Agree Realty declared a monthly dividend of $0.262 per share (ex-dividend March 31, payable April 15), implying a ~4.1% yield but with a high payout ratio of 177.4%.
- Investor and analyst backdrop: Institutional investors hold 97.83% of the stock, and analysts’ consensus is a “Moderate Buy” with a $83.21 price target.
Agree Realty Corporation (NYSE:ADC - Get Free Report) Director John Rakolta, Jr. purchased 146 shares of the stock in a transaction on Wednesday, April 1st. The stock was acquired at an average price of $75.69 per share, with a total value of $11,050.74. Following the completion of the acquisition, the director directly owned 146 shares of the company's stock, valued at approximately $11,050.74. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Agree Realty Trading Up 0.0%
NYSE ADC opened at $76.63 on Friday. Agree Realty Corporation has a one year low of $68.98 and a one year high of $82.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $9.20 billion, a P/E ratio of 43.30, a P/E/G ratio of 2.58 and a beta of 0.53. The stock's 50-day moving average is $77.07 and its 200-day moving average is $74.18.
Agree Realty Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.262 per share. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, March 31st. Agree Realty's dividend payout ratio (DPR) is 177.40%.
Institutional Trading of Agree Realty
A number of large investors have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. bought a new position in shares of Agree Realty in the 4th quarter valued at about $497,000. Hsbc Holdings PLC raised its holdings in shares of Agree Realty by 25.5% in the 4th quarter. Hsbc Holdings PLC now owns 295,693 shares of the real estate investment trust's stock valued at $21,299,000 after purchasing an additional 60,159 shares during the period. Corient Private Wealth LLC lifted its stake in Agree Realty by 25.0% in the 4th quarter. Corient Private Wealth LLC now owns 7,298 shares of the real estate investment trust's stock valued at $526,000 after purchasing an additional 1,458 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in Agree Realty in the 4th quarter valued at about $244,000. Finally, Compound Planning Inc. grew its holdings in Agree Realty by 18.2% during the fourth quarter. Compound Planning Inc. now owns 4,177 shares of the real estate investment trust's stock worth $301,000 after purchasing an additional 643 shares during the period. Institutional investors and hedge funds own 97.83% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Agree Realty from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. Mizuho boosted their price objective on shares of Agree Realty from $75.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, March 11th. Barclays upped their target price on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Friday, March 13th. Stifel Nicolaus increased their target price on Agree Realty from $83.50 to $84.50 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Royal Bank Of Canada lifted their price target on Agree Realty from $79.00 to $81.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.21.
Read Our Latest Report on Agree Realty
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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