Director John Rakolta Acquires 13,335 Shares of Agree Realty Corp
John Rakolta, a director at Agree Realty Corp (NYSE:ADC), has increased the insider's stake in the company by purchasing 13,335 shares on December 21, 2023, according to a recent SEC Filing. This transaction has expanded the insider's total purchases over the past year to 111,330 shares, with no recorded sales in the same period.
Agree Realty Corp is a real estate investment trust primarily engaged in the acquisition and development of properties leased to retail tenants. The company's portfolio includes community shopping centers, single tenant retail assets, and net leased properties.
Insider transactions at Agree Realty Corp over the past year have displayed a trend with 25 insider buys and no insider sells. This pattern suggests a positive sentiment among insiders about the company's future prospects.
On the valuation front, Agree Realty Corp's shares were priced at $62.44 on the day of the insider's recent acquisition, resulting in a market cap of $6.284 billion. The price-earnings ratio stands at 36.56, which is above both the industry median of 17.695 and the company's historical median price-earnings ratio.
The stock's price relative to the GuruFocus Value (GF Value) indicates that Agree Realty Corp is currently modestly undervalued. With a share price of $62.44 and a GF Value of $74.65, the price-to-GF-Value ratio is 0.84.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
The insider's recent purchase could be interpreted as a sign of confidence in the company's value and future performance, as insiders typically buy shares based on their understanding of the company's prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
