Ethos Financial Group LLC Makes New $506,000 Investment in Agree Realty Corporation $ADC

Key Points

• Ethos Financial Group LLC acquired 6,554 shares of Agree Realty Corporation valued at approximately $506,000, indicating significant institutional interest in the real estate investment trust.
• Agree Realty recently declared a monthly dividend of $0.256 per share, representing a yield of 4.2%, with a payout ratio of 182.74%.
• Analyst ratings for Agree Realty are mixed, with one sell rating, six hold ratings, nine buy ratings, and one strong buy, leading to a consensus rating of "Moderate Buy".

Ethos Financial Group LLC purchased a new stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 6,554 shares of the real estate investment trust's stock, valued at approximately $506,000.

Other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in Agree Realty by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust's stock valued at $365,000 after acquiring an additional 139 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Agree Realty by 61.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust's stock valued at $925,000 after acquiring an additional 4,551 shares during the last quarter. AE Wealth Management LLC bought a new position in Agree Realty during the 1st quarter valued at $358,000. Oppenheimer Asset Management Inc. lifted its position in shares of Agree Realty by 10.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 21,070 shares of the real estate investment trust's stock worth $1,626,000 after buying an additional 1,941 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Agree Realty by 77.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 112,702 shares of the real estate investment trust's stock worth $8,699,000 after buying an additional 49,282 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Insider Activity

In other Agree Realty news, CEO Joey Agree acquired 4,108 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $72.15 per share, with a total value of $296,392.20. Following the purchase, the chief executive officer directly owned 633,060 shares of the company's stock, valued at approximately $45,675,279. This trade represents a 0.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have purchased 6,950 shares of company stock valued at $501,296. Insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ADC shares. JMP Securities restated a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Morgan Stanley downgraded shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price target on the stock. in a research report on Friday, July 11th. Mizuho reduced their price target on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Finally, UBS Group raised their price target on shares of Agree Realty from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Agree Realty currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.50.

Agree Realty Price Performance

Agree Realty stock traded down $0.9750 during trading hours on Friday, hitting $73.0650. 701,347 shares of the company traded hands, compared to its average volume of 1,010,635. The firm has a market cap of $8.09 billion, a P/E ratio of 43.49, a P/E/G ratio of 2.41 and a beta of 0.55. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The firm's 50-day simple moving average is $73.11 and its two-hundred day simple moving average is $74.26. Agree Realty Corporation has a 1-year low of $67.58 and a 1-year high of $79.65.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. The company had revenue of $175.53 million for the quarter, compared to analysts' expectations of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The business's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.256 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 4.2%. Agree Realty's payout ratio is currently 182.74%.

Agree Realty Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.