Agree Realty (NYSE:ADC) Chairman Buys $1,696,080.00 in Stock

Agree Realty Corporation (NYSE:ADC) Chairman Richard Agree acquired 24,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average cost of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the acquisition, the chairman owned 159,855 shares of the company’s stock, valued at $11,296,952.85. This trade represents a 17.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Agree Realty Stock Up 1.2%

Agree Realty stock opened at $72.30 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The firm has a market cap of $8.31 billion, a P/E ratio of 42.28, a P/E/G ratio of 2.22 and a beta of 0.55. The business has a fifty day moving average of $72.80 and a two-hundred day moving average of $72.69. Agree Realty Corporation has a twelve month low of $68.98 and a twelve month high of $79.65.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. The firm had revenue of $183.22 million during the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a dividend of $0.262 per share. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, January 30th. Agree Realty’s dividend payout ratio is presently 183.63%.

Hedge Funds Weigh In On Agree Realty

Several hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Agree Realty by 408.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 306 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares during the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Agree Realty during the third quarter worth about $32,000. Cornerstone Planning Group LLC boosted its position in Agree Realty by 1,513.3% in the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 454 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 356 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Sunday. Stifel Nicolaus set a $83.50 target price on shares of Agree Realty in a research note on Tuesday, November 25th. Wells Fargo & Company upped their price target on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Evercore ISI lowered their price objective on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Finally, Barclays boosted their target price on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 3rd. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.23.

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.