Agree Realty (NYSE:ADC) Stock Gets Price Target Reduction from Robert W. Baird

Agree Realty (NYSE:ADC) had its price objective trimmed by Robert W. Baird from $77.00 to $76.00 in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

ADC has been the subject of a number of other reports. Wells Fargo & Company lowered their target price on Agree Realty from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Mizuho cut their price target on Agree Realty from $80.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, September 17th. Stifel Nicolaus cut their price target on Agree Realty from $84.00 to $81.50 and set a “buy” rating on the stock in a report on Friday, September 18th. Truist Financial began coverage on shares of Agree Realty in a research report on Thursday, October 1st. They set a “buy” rating and a $75.00 price objective for the company. Finally, Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.09.

Agree Realty Stock Performance

ADC stock opened at $66.78 on Wednesday. The stock has a 50-day moving average price of $69.39 and a 200-day moving average price of $74.00. Agree Realty has a 1-year low of $64.34 and a 1-year high of $82.08. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The firm has a market cap of $8.69 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.68. Agree Realty had a return on equity of 4.00% and a net margin of 29.75%. The company had revenue of $213.88 million for the quarter, compared to the consensus estimate of $211.52 million. During the same period in the previous year, the business earned $1.10 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts expect that Agree Realty will post 4.45 earnings per share for the current year.

Agree Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $0.2710 per share. This is a boost from Agree Realty’s previous monthly dividend of $0.2670. The ex-dividend date of this dividend is Friday, October 30th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 4.9%. Agree Realty’s payout ratio is currently 164.95%.

Insider Activity

In other news, CEO Joey Agree bought 7,360 shares of Agree Realty stock in a transaction dated Wednesday, September 16th. The stock was bought at an average cost of $68.06 per share, for a total transaction of $500,921.60. Following the purchase, the chief executive officer directly owned 682,465 shares in the company, valued at approximately $46,448,567.90. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Rakolta, Jr. bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was purchased at an average cost of $68.78 per share, with a total value of $1,375,600.00. Following the completion of the transaction, the director directly owned 654,602 shares in the company, valued at $45,023,525.56. This represents a 3.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 48,496 shares of company stock worth $3,418,670 in the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

A number of hedge funds have recently added to or reduced their stakes in ADC. Clearstead Trust LLC acquired a new position in shares of Agree Realty during the second quarter worth approximately $33,000. Elevation Wealth Partners LLC lifted its holdings in shares of Agree Realty by 172.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 430 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 272 shares in the last quarter. CX Institutional lifted its holdings in shares of Agree Realty by 852.2% in the 3rd quarter. CX Institutional now owns 438 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 392 shares in the last quarter. Wealth Enhancement Trust Services Inc. acquired a new stake in Agree Realty in the 3rd quarter valued at $32,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in Agree Realty in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Key Stories Impacting Agree Realty

Here are the key news stories impacting Agree Realty this week:

• Positive Sentiment: RBC Capital maintained a Buy rating on Agree Realty, signaling continued confidence in the REIT’s long-term income and growth prospects. RBC Capital Remains a Buy on Agree Realty
• Positive Sentiment: Third-quarter results exceeded expectations, with revenue rising 16.7% year over year to $213.9 million and reported EPS of $1.15 versus the $0.47 consensus estimate. Management also raised its AFFO outlook, supporting the company’s dividend and valuation case. Agree Realty Q3 Earnings Lift AFFO Outlook
• Positive Sentiment: Agree Realty’s retail portfolio reached 99.8% occupancy in the third quarter, highlighting resilient tenant demand and stable rental cash flows. The company also increased its dividend, strengthening its appeal to income-focused investors. Agree Realty: 3 Key Takeaways
• Neutral Sentiment: An analysis argues that the selloff has created a more attractive income opportunity, but investors still must weigh interest-rate sensitivity and the REIT’s funding requirements. The Selloff Has Created an Attractive Income Opportunity
• Negative Sentiment: Citigroup lowered its price target from $82.50 to $72 and assigned a Neutral rating, reflecting limited expected upside and concerns about valuation or financing conditions. Citigroup recommendations
• Negative Sentiment: BNP Paribas Exane cut its price target, while Robert W. Baird issued a pessimistic forecast. These revisions add to the negative analyst sentiment surrounding ADC. BNP Paribas Exane price target cut Baird forecast
• Negative Sentiment: Management reduced its 2026 investment-volume guidance to $1.6 billion, and analysts continue to flag funding risks. Slower acquisition activity could constrain Agree Realty’s external growth. Agree Realty Q3 Earnings

About Agree Realty

Agree Realty Corporation is a real estate investment trust (REIT) that acquires, develops, and manages retail properties across the United States. The company primarily uses a net-lease structure, under which tenants generally are responsible for property-level operating expenses such as taxes, insurance, and maintenance.

Its portfolio is focused mainly on essential retail properties occupied by nationally recognized and regional tenants, including grocery stores, home improvement retailers, dollar stores, pharmacies, and other necessity-based businesses.