Agree Realty Corporation (NYSE:ADC) Short Interest Down 56.1% in August

Agree Realty Corporation (NYSE:ADC) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 6,204,593 shares, a decrease of 56.1% from the August 15th total of 14,129,405 shares. Currently, 5.1% of the company’s shares are short sold. Based on an average trading volume of 1,701,504 shares, the days-to-cover ratio is currently 3.6 days.

Agree Realty Stock Down 1.0%

Shares of NYSE ADC traded down $0.74 during mid-day trading on Tuesday, reaching $70.04. 1,318,768 shares of the company’s stock were exchanged, compared to its average volume of 1,484,442. Agree Realty has a twelve month low of $69.56 and a twelve month high of $82.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.31 and a beta of 0.46. The business has a fifty day simple moving average of $75.75 and a 200 day simple moving average of $76.28.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). The business had revenue of $216.33 million during the quarter, compared to analyst estimates of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. Agree Realty’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities analysts expect that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.267 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 4.6%. Agree Realty’s dividend payout ratio is currently 172.04%.

Insider Activity at Agree Realty

In other news, Director John Rakolta, Jr. purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average cost of $73.23 per share, for a total transaction of $1,464,600.00. Following the transaction, the director directly owned 622,061 shares of the company’s stock, valued at approximately $45,553,527.03. The trade was a 3.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Agree Realty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearstead Trust LLC increased its holdings in Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 242 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Agree Realty by 71.1% in the fourth 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 in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Agree Realty by 163.8% in the fourth 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 in the last quarter. Gables Capital Management Inc. acquired a new position in shares of Agree Realty during the second quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Agree Realty during the second quarter worth about $45,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADC has been the subject of a number of analyst reports. Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a report on Friday, July 31st. Huntington began coverage on shares of Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 target price on the stock. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Barclays lifted their price target on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report 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 given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.94.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty’s portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.