Agree Realty (NYSE:ADC) Upgraded at Wall Street Zen

Agree Realty (NYSE:ADC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

ADC has been the topic of a number of other research reports. Citigroup increased their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a report on Friday, April 24th. Mizuho cut their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada raised their target price on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd. Finally, Barclays reduced their price target on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Agree Realty Trading Up 0.5%

ADC opened at $81.16 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Agree Realty has a 12-month low of $69.56 and a 12-month high of $82.08. The firm’s fifty day moving average price is $75.64 and its 200 day moving average price is $75.89. The stock has a market capitalization of $9.75 billion, a PE ratio of 43.87, a P/E/G ratio of 2.68 and a beta of 0.47.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) 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 firm had revenue of $211.49 million for the quarter, compared to analysts’ expectations of $195.73 million. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter 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, research analysts expect that Agree Realty will post 4.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joey Agree bought 13,295 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the purchase, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $75.09 per share, with a total value of $56,317.50. Following the acquisition, the director directly owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. This represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 19,045 shares of company stock valued at $1,415,943. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ADC. Vision Capital Corp purchased a new position in Agree Realty during the 4th quarter valued at about $3,920,000. Pasadena Private Wealth LLC acquired a new position in shares of Agree Realty in the 4th quarter valued at about $1,349,000. Lasalle Investment Management Securities LLC lifted its position in shares of Agree Realty by 6.2% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock worth $48,586,000 after purchasing an additional 39,119 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Agree Realty by 6,172.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after purchasing an additional 99,003 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Agree Realty by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after purchasing an additional 84,568 shares during the period. Hedge funds and other institutional investors 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.