Adelante Capital Management LLC purchased a new stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 430,209 shares of the real estate investment trust's stock, valued at approximately $32,584,000. Agree Realty makes up approximately 2.1% of Adelante Capital Management LLC's holdings, making the stock its 14th biggest holding. Adelante Capital Management LLC owned 0.35% of Agree Realty as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust's stock valued at $1,133,114,000 after purchasing an additional 84,568 shares during the period. Pasadena Private Wealth LLC bought a new position in shares of Agree Realty in the fourth quarter valued at $1,349,000. Vision Capital Corp acquired a new position in Agree Realty during the 4th quarter valued at about $3,920,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Agree Realty by 7.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust's stock worth $58,916,000 after buying an additional 54,478 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC grew its stake in shares of Agree Realty by 6.2% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust's stock worth $48,586,000 after acquiring an additional 39,119 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.
Agree Realty Trading Down 0.7%
NYSE:ADC opened at $73.79 on Thursday. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 39.67, a P/E/G ratio of 2.43 and a beta of 0.47. The company has a 50-day moving average price of $76.78 and a 200-day moving average price of $76.80. 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 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). The company had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts predict that Agree Realty Corporation will post 4.45 EPS for the current year.
Agree Realty Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.267 dividend. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, August 31st. Agree Realty's payout ratio is presently 172.04%.
Insider Buying and Selling
In other Agree Realty news, Chairman Richard Agree purchased 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $71.41 per share, with a total value of $357,050.00. Following the acquisition, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.
Analyst Ratings Changes
ADC has been the subject of several research reports. Weiss Ratings lowered shares of Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Mizuho lowered their target price on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Huntington initiated coverage on Agree Realty in a research report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price target on the stock. Jefferies Financial Group started coverage on shares of Agree Realty in a research note on Monday, June 1st. They issued a "buy" rating and a $84.00 target price for the company. Finally, Barclays upped their price target on shares of Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.
View Our Latest Report on ADC
Agree Realty Company Profile
(
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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