BlackRock Inc. bought a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,112,107 shares of the real estate investment trust's stock, valued at approximately $1,447,551,000. BlackRock Inc. owned about 15.37% of Agree Realty as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC grew its position in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 242 shares during the last quarter. Wiser Advisor Group LLC acquired a new stake in Agree Realty during the 3rd quarter valued at $32,000. Creative Financial Designs Inc. ADV grew its holdings in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 192 shares during the last quarter. Clearstead Advisors LLC increased its position in Agree Realty by 163.8% during the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock worth $33,000 after buying an additional 285 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its position in Agree Realty by 214.4% during the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock worth $40,000 after buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.
Agree Realty Stock Performance
Agree Realty stock opened at $74.45 on Friday. The stock has a fifty day moving average price of $76.82 and a 200 day moving average price of $76.78. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The firm has a market capitalization of $9.26 billion, a P/E ratio of 40.03, a PEG ratio of 2.43 and a beta of 0.47. 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 (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 analysts' consensus estimates of $0.48 by ($0.04). The business had revenue of $216.33 million during the quarter, compared to analyst estimates of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities research analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current year.
Agree Realty Announces Dividend
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 dividend of $0.267 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a yield of 4.3%. Agree Realty's dividend payout ratio is 172.04%.
Analyst Ratings Changes
ADC has been the topic of several recent research reports. Mizuho reduced their price objective on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Robert W. Baird set a $83.00 price objective on Agree Realty in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Barclays upped their target price on shares of Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Finally, Citigroup raised their price target on shares of Agree Realty from $77.00 to $82.50 and gave the stock a "neutral" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.94.
Check Out Our Latest Stock Report on Agree Realty
Insiders Place Their Bets
In related news, Chairman Richard Agree purchased 5,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were bought 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 approximately $6,463,461.92. This trade represents a 5.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
Agree Realty Profile
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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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