John Rakolta, Jr. Acquires 15,000 Shares of Agree Realty (NYSE:ADC) Stock

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. bought 15,000 shares of the stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of $72.18 per share, with a total value of $1,082,700.00. Following the acquisition, the director owned 562,606 shares of the company’s stock, valued at $40,608,901.08. This trade represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Agree Realty Trading Up 0.3%

Shares of NYSE:ADC opened at $72.80 on Wednesday. The company has a market capitalization of $8.37 billion, a PE ratio of 42.58, a P/E/G ratio of 2.36 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 Corporation has a 12-month low of $67.58 and a 12-month high of $79.65. The business’s fifty day simple moving average is $73.31 and its 200-day simple moving average is $72.90.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share 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 firm had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. During the same period in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, equities research analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.262 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Agree Realty’s payout ratio is presently 183.63%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho lowered their target price on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Evercore ISI reduced 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. Stifel Nicolaus set a $83.50 price target on Agree Realty in a research note on Tuesday, November 25th. Finally, Truist Financial dropped their price target on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.32.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Agree Realty by 23.2% in the third quarter. Allworth Financial LP now owns 1,098 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 207 shares during the period. IFP Advisors Inc increased its holdings in Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 171 shares during the period. Swiss Life Asset Management Ltd raised its position in Agree Realty by 89.3% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 5,233 shares of the real estate investment trust’s stock worth $372,000 after buying an additional 2,468 shares during the last quarter. Cambria Investment Management L.P. lifted its stake in Agree Realty by 15.6% during the 3rd quarter. Cambria Investment Management L.P. now owns 8,049 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 1,085 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Agree Realty in the 3rd quarter valued at $2,063,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Company Profile

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.