Agree Realty Corporation (NYSE:ADC - Get Free Report) Chairman Richard Agree bought 5,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was acquired at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Agree Realty Stock Performance
Shares of ADC opened at $73.31 on Tuesday. The business's 50 day moving average is $75.95 and its two-hundred day moving average is $75.24. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 2.47 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.
Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same period in the prior year, the company posted $0.42 EPS. Agree Realty'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. Analysts forecast that Agree Realty Corporation will post 4.44 EPS for the current fiscal year.
Agree Realty Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.267 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 29th. Agree Realty's payout ratio is 172.97%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on ADC shares. Royal Bank Of Canada boosted their price target on Agree Realty from $81.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Truist Financial boosted their price target on Agree Realty from $79.00 to $82.00 and gave the company a "buy" rating in a report on Monday, March 23rd. Barclays lowered their price target on Agree Realty from $86.00 to $84.00 and set an "equal weight" rating for the company in a report on Tuesday, May 19th. Stifel Nicolaus boosted their price target on Agree Realty from $83.50 to $84.50 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Weiss Ratings upgraded Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.80.
Get Our Latest Stock Report on Agree Realty
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in ADC. Clearstead Trust LLC grew its stake in Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock worth $27,000 after buying an additional 242 shares during the last quarter. Wiser Advisor Group LLC bought a new position in Agree Realty during the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV grew its stake in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after buying an additional 192 shares during the last quarter. Clearstead Advisors LLC grew its stake in Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock worth $33,000 after buying an additional 285 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Agree Realty by 178.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock worth $39,000 after buying an additional 350 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.
Agree Realty Company Profile
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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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