523,700 Shares in Agree Realty Corporation $ADC Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group purchased 523,700 Agree Realty shares worth approximately $39.7 million, acquiring a 0.42% stake. Institutional investors collectively own 97.83% of the REIT.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $83.94, despite some downgrades and target-price reductions.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year, but missed EPS estimates. The company also announced a monthly dividend of $0.267 per share, representing a 4.4% annualized yield.

Jefferies Financial Group Inc. 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 & Exchange Commission. The institutional investor purchased 523,700 shares of the real estate investment trust's stock, valued at approximately $39,665,000. Jefferies Financial Group Inc. owned about 0.42% of Agree Realty as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADC. Vanguard Group Inc. grew its stake in shares of Agree Realty by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust's stock worth $1,133,114,000 after acquiring an additional 84,568 shares during the period. Pasadena Private Wealth LLC purchased a new stake in Agree Realty in the fourth quarter worth approximately $1,349,000. Lasalle Investment Management Securities LLC grew its position in 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 purchasing an additional 39,119 shares during the period. Vision Capital Corp bought a new stake in Agree Realty in the 4th quarter worth approximately $3,920,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Agree Realty by 7.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust's stock valued at $58,916,000 after buying an additional 54,478 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADC has been the topic of a number of research reports. Wall Street Zen downgraded Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Mizuho dropped their target price 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. Huntington started coverage on Agree Realty in a research note on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price target for the company. Robert W. Baird set a $83.00 price target on shares of Agree Realty in a research report on Friday, July 31st. Finally, Barclays increased their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the stock 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 assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.

Insider Buying and Selling

In other news, Chairman Richard Agree purchased 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $71.41 per share, with a total value of $357,050.00. Following the completion of the acquisition, the chairman directly owned 90,512 shares of the company's stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company's stock.

Agree Realty Price Performance

NYSE ADC opened at $73.19 on Friday. The business's fifty day moving average is $76.77 and its 200 day moving average is $76.79. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $9.10 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.41 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 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company had revenue of $216.33 million during the quarter, compared to analysts' expectations of $204.53 million. During the same quarter in the previous year, the company earned $1.06 EPS. The business's quarterly revenue was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Sell-side analysts predict that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 4.4%. Agree Realty's dividend payout ratio (DPR) is presently 172.04%.

Agree Realty Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source