Insider Buying: Agree Realty (NYSE:ADC) Insider Buys $67,550.00 in Stock

Agree Realty Corporation (NYSE:ADC) insider Craig Erlich bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were purchased at an average cost of $67.55 per share, for a total transaction of $67,550.00. Following the completion of the transaction, the insider owned 60,388 shares of the company’s stock, valued at $4,079,209.40. This represents a 1.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Agree Realty Trading Up 0.4%

Shares of ADC opened at $67.45 on Friday. The stock’s 50-day moving average price is $73.99 and its 200 day moving average price is $75.56. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 36.26, a P/E/G ratio of 2.19 and a beta of 0.46. Agree Realty Corporation has a 12-month low of $66.50 and a 12-month high of $82.08.

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

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be issued a $0.2670 dividend. This represents a $3.20 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Agree Realty’s payout ratio is 172.04%.

Wall Street Analysts Forecast Growth

ADC has been the subject of a number of analyst reports. 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. Barclays upped their target price on shares of Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus cut their price target on shares of Agree Realty from $84.00 to $81.50 and set a “buy” rating for the company in a research note on Friday, September 18th. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Robert W. Baird set a $83.00 price objective on Agree Realty in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and a consensus price target of $83.25.

Institutional Investors Weigh In On Agree Realty

Several hedge funds and other institutional investors have recently made changes to their positions in ADC. BlackRock Inc. acquired a new position in shares of Agree Realty during the second quarter valued at $1,447,551,000. Cohen & Steers Inc. increased its position in Agree Realty by 4.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after purchasing an additional 649,301 shares during the period. Principal Financial Group Inc. raised its holdings in Agree Realty by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock worth $341,180,000 after purchasing an additional 232,532 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Agree Realty by 13.9% during the 4th quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock worth $237,639,000 after purchasing an additional 402,943 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Agree Realty by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 2,509,922 shares of the real estate investment trust’s stock valued at $180,823,000 after purchasing an additional 117,346 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

About Agree Realty

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.