687,184 Shares in Agree Realty Corporation $ADC Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 687,184 shares of Agree Realty, worth approximately $52.0 million and representing about 0.55% of the REIT. Institutional investors collectively own 97.83% of ADC.
• Agree Realty reported quarterly EPS of $0.44, missing the $0.48 consensus estimate, while revenue rose 16.8% year over year to $216.33 million. The company issued FY 2026 EPS guidance of $4.57–$4.59.
• The REIT declared a monthly dividend of $0.267 per share, implying an annualized yield of about 4.4%. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.94, above the reported share price of $73.21.

Legal & General Group Plc acquired a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 687,184 shares of the real estate investment trust's stock, valued at approximately $52,047,000. Legal & General Group Plc owned approximately 0.55% of Agree Realty at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADC. Jane Street Group LLC boosted its position in shares of Agree Realty by 268.9% during the first quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust's stock valued at $2,112,000 after buying an additional 19,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust's stock worth $42,000 after buying an additional 356 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Agree Realty in the 2nd quarter worth about $1,875,000. EverSource Wealth Advisors LLC raised its position in 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 worth $99,000 after buying an additional 965 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Agree Realty by 46.8% during the 2nd quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust's stock valued at $5,421,000 after acquiring an additional 23,662 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Trading Up 0.0%

Shares of NYSE:ADC opened at $73.21 on Friday. The stock has a 50 day moving average of $76.77 and a 200 day moving average of $76.77. The company has a market cap of $9.11 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. 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 released its 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 firm had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same quarter in the previous year, the business posted $1.06 EPS. Agree Realty's 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. As a group, equities research analysts expect that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

The company 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 dividend of $0.267 per share. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, August 31st. Agree Realty's dividend payout ratio (DPR) is presently 172.04%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADC. Huntington began coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price objective on the stock. Robert W. Baird set a $83.00 price target on Agree Realty in a research note on Friday, July 31st. Barclays raised their price target on Agree Realty from $84.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Mizuho reduced their price objective on Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Finally, Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.

Insider Activity at Agree Realty

In other news, Chairman Richard Agree bought 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the purchase, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

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.

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