Agree Realty Corporation (NYSE:ADC - Get Free Report) Director John Rakolta, Jr. purchased 20,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average price of $73.23 per share, for a total transaction of $1,464,600.00. Following the completion of the purchase, the director directly owned 622,061 shares of the company's stock, valued at approximately $45,553,527.03. This trade represents a 3.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Agree Realty Trading Down 1.1%
Agree Realty stock opened at $72.36 on Tuesday. The business has a 50 day moving average price of $76.75 and a two-hundred day moving average price of $76.75. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08.
Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $204.53 million. During the same quarter in the prior year, the business posted $1.06 EPS. Agree Realty's 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. As a group, equities analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current year.
Agree Realty Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.267 dividend. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 31st. Agree Realty's dividend payout ratio (DPR) is 172.04%.
Analysts Set New Price Targets
ADC has been the topic of several analyst reports. 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. Mizuho reduced their price objective on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group initiated coverage on shares of Agree Realty in a research report on Monday, June 1st. They set a "buy" rating and a $84.00 target price on the stock. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research note on Friday, July 31st. Finally, Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.94.
Get Our Latest Stock Report on ADC
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Clearstead Trust LLC grew its position 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 acquiring an additional 242 shares during the last quarter. Wiser Advisor Group LLC acquired a new stake in Agree Realty during the 3rd quarter valued at $32,000. Creative Financial Designs Inc. ADV raised its position in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 192 shares during the last quarter. Clearstead Advisors LLC raised its position in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 285 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in Agree Realty by 214.4% in the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 373 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
About Agree Realty
(
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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