87,127 Shares in Agree Realty Corporation $ADC Acquired by Brummer Multi Strategy AB

Key Points

• Brummer Multi Strategy AB initiated a new position in Agree Realty, buying 87,127 shares valued at about $6.57 million. The stake made ADC its second-largest holding and represented 27.3% of the fund’s portfolio.
• Agree Realty recently delivered a solid quarterly report, with EPS of $0.50 topping expectations and revenue of $211.49 million coming in above estimates. Revenue rose 18.7% year over year, and the company reaffirmed/issued FY2026 EPS guidance of 4.540 to 4.580.
• Analyst sentiment remains generally positive, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus and average target of $83.81. The company also declared a monthly dividend of $0.267 per share, implying a 4.0% yield.

Brummer Multi Strategy AB acquired a new position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 87,127 shares of the real estate investment trust's stock, valued at approximately $6,568,000. Agree Realty comprises about 27.3% of Brummer Multi Strategy AB's investment portfolio, making the stock its 2nd largest holding. Brummer Multi Strategy AB owned 0.07% of Agree Realty as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC increased its position in Agree Realty by 5.0% during the first quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust's stock worth $231,000 after buying an additional 145 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Agree Realty by 2.7% in the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust's stock valued at $430,000 after acquiring an additional 154 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of Agree Realty by 1.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust's stock valued at $1,070,000 after acquiring an additional 154 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Agree Realty by 18.2% during the third quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 171 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its position in Agree Realty by 0.9% during the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust's stock worth $1,402,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a research note on Tuesday, April 21st. Royal Bank Of Canada lifted their price target on shares of Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Truist Financial boosted their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. BMO Capital Markets downgraded shares of Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price objective on the stock. in a research note on Friday, April 17th. Finally, Robert W. Baird raised their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.81.

Agree Realty Price Performance

ADC opened at $80.57 on Friday. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The company's 50 day simple moving average is $75.54 and its 200 day simple moving average is $75.85. The stock has a market capitalization of $9.68 billion, a PE ratio of 43.55, a P/E/G ratio of 2.58 and a beta of 0.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The business had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, sell-side analysts expect 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 Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.267 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.0%. Agree Realty's dividend payout ratio is presently 172.97%.

Insider Activity at Agree Realty

In related 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 cost of $71.41 per share, for a total transaction of $357,050.00. Following the acquisition, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joey Agree bought 13,295 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the transaction, the chief executive officer directly owned 675,105 shares of the company's stock, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 19,045 shares of company stock worth $1,415,943. Corporate insiders own 1.80% of the company's stock.

Agree Realty 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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