Agree Realty (NYSE:ADC) Now Covered by Huntington

Huntington began coverage on shares of Agree Realty (NYSE:ADC) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $84.00 price target on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group started coverage on Agree Realty in a research report on Monday, June 1st. They set a “buy” rating and a $84.00 price target on the stock. Citigroup lifted their price target on Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research report on Friday, April 24th. Mizuho decreased their price objective 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. Weiss Ratings restated a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd. Finally, Raymond James Financial lifted their target price on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Agree Realty Stock Down 0.6%

Shares of NYSE ADC opened at $77.54 on Wednesday. The stock has a market capitalization of $9.31 billion, a P/E ratio of 41.91, a P/E/G ratio of 2.59 and a beta of 0.47. 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 1 year low of $69.56 and a 1 year high of $82.08. The company has a 50-day moving average price of $75.46 and a 200-day moving average price of $75.79.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 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 during the quarter, compared to the consensus estimate of $195.73 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities research analysts forecast that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.267 per share. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, July 31st. Agree Realty’s dividend payout ratio (DPR) is presently 172.97%.

Insider Buying and Selling

In other Agree Realty news, Director Greg Lehmkuhl acquired 750 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the acquisition, the director owned 34,465 shares in the company, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard Agree bought 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the purchase, the chairman owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 19,045 shares of company stock worth $1,415,943 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its position in Agree Realty by 10.3% during the second quarter. GAMMA Investing LLC now owns 5,383 shares of the real estate investment trust’s stock valued at $408,000 after acquiring an additional 501 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Agree Realty by 9.2% in the 2nd quarter. CoreCap Advisors LLC now owns 80,269 shares of the real estate investment trust’s stock worth $6,080,000 after purchasing an additional 6,753 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Agree Realty by 5.6% during the 1st quarter. Pacer Advisors Inc. now owns 14,230 shares of the real estate investment trust’s stock valued at $1,073,000 after purchasing an additional 751 shares during the last quarter. Integrated Investment Consultants LLC grew its holdings in shares of Agree Realty by 3.4% in the first quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 192 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Agree Realty by 65.4% in the 1st quarter. Bank of America Corp DE now owns 1,526,561 shares of the real estate investment trust’s stock worth $115,072,000 after buying an additional 603,480 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

About Agree Realty

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.