Jupiter Topco LLC purchased a new stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,216,172 shares of the real estate investment trust's stock, valued at approximately $92,125,000. Jupiter Topco LLC owned about 0.98% of Agree Realty as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC raised its stake in shares of Agree Realty by 268.9% during the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust's stock worth $2,112,000 after purchasing an additional 19,948 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 356 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Agree Realty during the second quarter worth $1,875,000. EverSource Wealth Advisors LLC grew its position in shares of Agree Realty by 245.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust's stock valued at $99,000 after acquiring an additional 965 shares during the period. Finally, First Trust Advisors LP increased its position in Agree Realty by 46.8% during the second quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust's stock worth $5,421,000 after buying an additional 23,662 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Barclays boosted their target price on Agree Realty from $84.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Jefferies Financial Group started coverage on shares of Agree Realty in a research report on Monday, June 1st. They issued a "buy" rating and a $84.00 price objective on the stock. Mizuho reduced their target price on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Weiss Ratings cut shares of Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Huntington assumed coverage on Agree Realty in a report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Agree Realty currently has a consensus rating of "Moderate Buy" and an average target price of $83.94.
Get Our Latest Stock Analysis on ADC
Agree Realty Stock Down 0.7%
Shares of ADC opened at $73.79 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The firm's 50 day moving average is $76.78 and its 200-day moving average is $76.80. The stock has a market capitalization of $9.18 billion, a PE ratio of 39.67, a P/E/G ratio of 2.43 and a beta of 0.47.
Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The company had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. During the same quarter last year, the firm posted $1.06 earnings per share. The company's quarterly revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities research analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current year.
Agree Realty Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.267 dividend. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Agree Realty's dividend payout ratio (DPR) is presently 172.04%.
Insider Activity at Agree Realty
In related news, Chairman Richard Agree purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $71.41 per share, with a total value of $357,050.00. Following the completion of the purchase, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company's stock.
About Agree Realty
(
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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