Agree Realty (NYSE:ADC) Director John Rakolta, Jr. Buys 20,000 Shares of Stock

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. purchased 20,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were acquired at an average price of $73.23 per share, for a total transaction of $1,464,600.00. Following the acquisition, the director directly owned 622,061 shares in the company, valued at $45,553,527.03. This represents a 3.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Agree Realty Trading Down 1.1%

Shares of NYSE:ADC opened at $72.36 on Tuesday. The stock has a market capitalization of $9.00 billion, a PE ratio of 38.90, a P/E/G ratio of 2.39 and a beta of 0.47. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The firm has a fifty day moving average price of $76.75 and a 200 day moving average price of $76.75. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. During the same period in the previous year, the company earned $1.06 earnings per share. The company’s quarterly 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. Analysts expect that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.267 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Agree Realty’s dividend payout ratio is currently 172.04%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADC shares. Mizuho decreased their target price on Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group assumed coverage on shares of Agree Realty in a research report on Monday, June 1st. They issued a “buy” rating and a $84.00 price target on the stock. Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a research note on Friday, July 31st. Huntington started coverage on shares of Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th. One investment 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, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $83.94.

Institutional Investors Weigh In On Agree Realty

Several hedge funds have recently modified their holdings of the business. Clearstead Trust LLC grew its stake in shares of Agree Realty by 192.1% in the fourth 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 bought a new stake in Agree Realty in the 3rd quarter valued at $32,000. Clearstead Advisors LLC boosted its holdings 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 period. Creative Financial Designs Inc. ADV boosted its holdings 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 period. Finally, Transamerica Financial Advisors LLC grew its position in Agree Realty by 214.4% in the 4th 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 during the last quarter. 97.83% of the stock is owned by institutional investors.

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.