Key Points
- Director Greg Lehmkuhl bought 750 shares of Agree Realty at $75.09 each, a transaction worth $56,317.50. After the purchase, he owned 34,465 shares valued at about $2.59 million.
- Agree Realty recently reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.47 estimate and revenue of $211.49 million, up 18.7% year over year.
- The company declared a quarterly dividend of $0.267 per share, payable June 12, which annualizes to $1.07 and yields about 1.4% at the current share price.
Agree Realty Corporation (NYSE:ADC - Get Free Report) Director Greg Lehmkuhl bought 750 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the transaction, the director directly owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
Agree Realty Price Performance
Shares of NYSE ADC opened at $75.75 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The firm has a market capitalization of $9.10 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 2.54 and a beta of 0.50. The stock's 50-day simple moving average is $77.18 and its 200-day simple moving average is $75.14.
Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping 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 business had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same quarter last year, the company earned $0.42 EPS. The business's quarterly revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities research analysts forecast that Agree Realty Corporation will post 4.44 EPS for the current fiscal year.
Agree Realty Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty's dividend payout ratio (DPR) is 172.97%.
Analysts Set New Price Targets
A number of research firms recently issued reports on ADC. Stifel Nicolaus raised their price target on Agree Realty from $83.50 to $84.50 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Wall Street Zen downgraded Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Robert W. Baird raised their price target on Agree Realty from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Mizuho dropped their price target 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. Finally, Morgan Stanley set a $81.00 price target on Agree Realty in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.93.
Get Our Latest Stock Analysis on Agree Realty
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust's stock worth $1,133,114,000 after buying an additional 84,568 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Agree Realty by 4.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust's stock valued at $1,015,324,000 after purchasing an additional 649,301 shares during the period. State Street Corp increased its holdings in shares of Agree Realty by 1.6% in the fourth quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust's stock valued at $425,350,000 after purchasing an additional 91,766 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Agree Realty by 5.4% in the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust's stock valued at $341,180,000 after purchasing an additional 232,532 shares during the period. Finally, Centersquare Investment Management LLC increased its holdings in shares of Agree Realty by 13.9% in the fourth quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust's stock valued at $237,639,000 after purchasing an additional 402,943 shares during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.
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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