Agree Realty (NYSE:ADC) Stock Rating Upgraded by Jefferies Financial Group

by · The Markets Daily

Agree Realty (NYSE:ADC – Get Free Report) was upgraded by analysts at Jefferies Financial Group to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. UBS Group increased their price objective on Agree Realty from $82.00 to $91.00 and gave the company a “buy” rating in a report on Monday, March 9th. Barclays decreased their price objective on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, May 19th. Raymond James Financial increased their price objective on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a report on Tuesday, March 17th. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target for the company. in a report on Friday, April 17th. Finally, Weiss Ratings upgraded Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $83.80.

Read Our Latest Analysis on ADC

Agree Realty Stock Performance

NYSE ADC opened at $72.54 on Monday. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.49 and a beta of 0.48. Agree Realty has a twelve month low of $69.56 and a twelve month high of $82.08. The stock has a fifty day simple moving average of $76.19 and a 200 day simple moving average of $75.27. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.Agree Realty’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Sell-side analysts expect that Agree Realty will post 4.44 EPS for the current year.

Insider Activity

In other news, Director Greg Lehmkuhl bought 750 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the purchase, the director directly owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% 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, CEO Joey Agree bought 13,295 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the purchase, the chief executive officer owned 675,105 shares in the company, valued at $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 14,191 shares of company stock valued at $1,069,944. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Agree Realty

Several large investors have recently added to or reduced their stakes in the business. Integrated Investment Consultants LLC lifted its position in Agree Realty by 3.4% in the 1st quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust’s stock valued at $435,000 after acquiring an additional 192 shares in the last quarter. Bank of America Corp DE lifted its position in Agree Realty by 65.4% in the 1st quarter. Bank of America Corp DE now owns 1,526,561 shares of the real estate investment trust’s stock valued at $115,072,000 after acquiring an additional 603,480 shares in the last quarter. Edgestream Partners L.P. bought a new position in Agree Realty in the 1st quarter valued at about $10,803,000. Amundi lifted its position in Agree Realty by 5.6% in the 1st quarter. Amundi now owns 63,574 shares of the real estate investment trust’s stock valued at $4,792,000 after acquiring an additional 3,388 shares in the last quarter. Finally, Adelante Capital Management LLC lifted its position in Agree Realty by 0.4% in the 1st quarter. Adelante Capital Management LLC now owns 440,181 shares of the real estate investment trust’s stock valued at $33,181,000 after acquiring an additional 1,766 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

About Agree Realty

(Get Free Report)

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.

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