Baird Cuts Agree Realty (ADC) Price Target to $76
Key Points
- Baird maintained its Outperform rating on Agree Realty Corporation on October 21, 2026, while lowering its price target to $76 from $77.
- Baird's $76 price target implies 17.85% upside from Agree Realty Corporation's ($ADC) current $64.49 share price.
- Agree Realty Corporation recently traded around $64.49, sitting below its 50-day moving average and its consensus target mean price.
- The real estate investment trust operates a large net-leased retail property portfolio across all 50 states.
Since the rating, $ADC is up 2.8% to date (from the $64.49 close on Oct 21, 2026).
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On October 21, 2026, Baird kept its Outperform rating on Agree Realty Corporation while lowering its price target to $76 from $77. According to the firm's research note, the updated target adjusts the prior expectations for the real estate investment trust.
ADC
Agree Realty Corporation
Baird vs. the S&P 500
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Baird's Call on Agree Realty Corporation
Baird maintained its Outperform stance on the retail property owner on October 21, 2026, shifting its expected price level from $77 down to $76. The forward-looking rating reflects the firm's current view on the stock's potential relative to its peers.
Other Institutional Activity in Agree Realty Corporation
Cohen & Steers Inc. reduced its holdings by 1,461,337 shares, ending with 16,403,414 shares worth about $1,094,435,802. Principal Financial Group, Inc. grew its holdings by 136,237 shares, ending with 4,662,379 shares worth about $311,073,932. CenterSquare Investment Management LLC grew its holdings by 301,450 shares, ending with 3,730,917 shares worth about $248,926,786. Two Sigma Investments, LP reduced its holdings by 506,856 shares, ending with 3,535,058 shares worth about $235,859,074. Daiwa Securities Group Inc. reduced its holdings by 39,984 shares, ending with 2,921,805 shares worth about $194,942,833.
Agree Realty Corporation Stock Holds Steady
Agree Realty Corporation shares recently traded near $64.49 as of October 22, 2026, matching the close on October 21, 2026. The stock trades below its 50-day moving average of $69.74 and sits beneath its 52-week high of $82.08.
$ADC price target
Agree Realty Corporation daily closes and this analyst's $76 target. Not advice.
Recent Earnings
Agree Realty Corporation reported trailing twelve month revenue of $810,280,000 alongside basic trailing twelve month earnings of $1.94 per share. The company generated a net profit margin of 29.8% and a return on equity of 3.8%. Financial results for the next quarter are scheduled for release on February 9, 2027.
Dividend
Agree Realty Corporation pays an annual dividend rate of $3.25 per share, translating to a dividend yield of 5.04%. The payout ratio stands at 163.6% based on trailing results.
Insider Buying and Selling at Agree Realty Corporation
Director Johnjr Rakolta bought 10,000 shares on August 31, 2026 at an average price of $72.42 per share for a total value of $724,200. Director Johnjr Rakolta later bought 20,000 shares on September 16, 2026 at $68.78 per share for a total of $1,375,600. Chief Executive Officer Joel N Agree bought 7,360 shares on September 16, 2026 at $68.06 per share for $500,922. Officer Craig Erlich bought 1,000 shares on September 21, 2026 at $67.55 per share for a total value of $67,550.
Analysts Set New Price Targets
Wells Fargo maintained an Overweight rating on October 19, 2026 with a price target of $79, down from $83. Barclays maintained an Equal-Weight rating on October 20, 2026 with a target of $76, down from $85. BNP Paribas maintained a Neutral rating on October 21, 2026, lowering its target to $74 from $84. Stifel maintained a Buy rating on October 21, 2026, setting a target of $76.50 down from $81.50. Across the broader analyst community, the stock holds a consensus buy recommendation and an average price target of $79.11.
About Agree Realty Corporation
Agree Realty Corporation operates as a real estate investment trust focused on acquiring and developing retail properties net-leased to industry tenants. As of mid-2026, the firm owns and operates thousands of properties across all 50 states spanning tens of millions of square feet of gross leasable area.
Bottom Line
Investors will look toward the upcoming earnings report on February 9, 2027 for further details on portfolio expansion and retail tenant performance. Market participants continue to monitor analyst target adjustments alongside broader institutional shifts in the retail REIT sector.
Related Filing Alerts
Source: Baird's rating change on $ADC (Oct 21, 2026). Written by software, not financial advice. How we make alerts