Agree Realty Co. (NYSE:ADC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Agree Realty Co. (NYSE:ADC) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $65.50.

Several brokerages have issued reports on ADC. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. KeyCorp began coverage on Agree Realty in a report on Wednesday, June 12th. They issued an “overweight” rating and a $68.00 price target on the stock. Mizuho increased their price target on Agree Realty from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Finally, UBS Group began coverage on Agree Realty in a report on Friday, May 31st. They issued a “neutral” rating and a $60.00 price target on the stock.

Insider Buying and Selling

In other Agree Realty news, Director Greg Lehmkuhl purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $58.99 per share, for a total transaction of $58,990.00. Following the completion of the acquisition, the director now owns 23,036 shares of the company’s stock, valued at approximately $1,358,893.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Agree Realty

A number of large investors have recently bought and sold shares of ADC. HBC Financial Services PLLC purchased a new stake in Agree Realty in the fourth quarter worth $31,000. Lindbrook Capital LLC increased its position in Agree Realty by 267.1% in the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 430 shares during the last quarter. UMB Bank n.a. increased its position in Agree Realty by 247.3% in the first quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 512 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Agree Realty in the fourth quarter worth $44,000. Finally, Jamison Private Wealth Management Inc. increased its position in Agree Realty by 96.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 364 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Trading Up 0.9 %

NYSE ADC opened at $61.94 on Friday. The business has a 50 day simple moving average of $59.96 and a 200 day simple moving average of $59.20. The stock has a market capitalization of $6.23 billion, a P/E ratio of 36.44, a P/E/G ratio of 2.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.71 and a quick ratio of 0.71. Agree Realty has a one year low of $52.69 and a one year high of $69.26.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.84%. Agree Realty’s dividend payout ratio (DPR) is currently 176.47%.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.