The President & CEO of Agree Realty (NYSE: ADC) is Buying Shares

By Carrie Williams

Today, the President & CEO of Agree Realty (ADCResearch Report), Joey Agree, bought shares of ADC for $247.9K.

Following Joey Agree’s last ADC Buy transaction on March 03, 2021, the stock climbed by 5.9%. In addition to Joey Agree, 2 other ADC executives reported Buy trades in the last month.

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Based on Agree Realty’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $82.55 million and quarterly net profit of $22.35 million. In comparison, last year the company earned revenue of $57.54 million and had a net profit of $25.26 million. The company has a one-year high of $75.95 and a one-year low of $61.27. Currently, Agree Realty has an average volume of 52.87K.

Based on 7 analyst ratings, the analyst consensus is Strong Buy with an average price target of $81.00, reflecting a -16.1% downside. Six different firms, including BTIG and Jefferies, currently also have a Buy rating on the stock.

The insider sentiment on Agree Realty has been positive according to 32 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Agree Realty Corp. is a real estate investment trust, which focuses on the ownership, development, acquisition, and management of retail properties net leased to national tenants. It specializes in acquiring and developing net leased retail properties for retail tenants. The company was founded by Richard Agree in 1971 and is headquartered in Bloomfield Hills, MI.