Aberdeen Group plc Has $2.38 Million Holdings in Agree Realty Corporation $ADC

Key Points

• Aberdeen Group plc increased its stake in Agree Realty Corporation by 19.4% in the second quarter, bringing its holdings to approximately $2.38 million after acquiring 5,271 additional shares.
• Insider directors have also been actively purchasing shares, with Director John Rakolta, Jr. buying 25,154 shares worth about $1.77 million, indicating confidence in the company's future.
• Agree Realty announced a monthly dividend of $0.262, reflecting a positive change and an annualized yield of 4.2%, with the ex-dividend date set for October 31st.

Aberdeen Group plc boosted its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 19.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,510 shares of the real estate investment trust's stock after buying an additional 5,271 shares during the quarter. Aberdeen Group plc's holdings in Agree Realty were worth $2,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADC. Cullen Frost Bankers Inc. bought a new stake in shares of Agree Realty during the 1st quarter worth about $27,000. Farther Finance Advisors LLC lifted its holdings in Agree Realty by 408.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 306 shares during the last quarter. SVB Wealth LLC acquired a new stake in Agree Realty in the 1st quarter worth approximately $33,000. Larson Financial Group LLC boosted its position in Agree Realty by 415.1% during the first quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 440 shares during the period. Finally, IFP Advisors Inc acquired a new position in Agree Realty during the second quarter valued at approximately $69,000. Institutional investors and hedge funds own 97.83% of the company's stock.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Director John Rakolta, Jr. purchased 25,154 shares of the company's stock in a transaction that occurred on Tuesday, October 7th. The stock was purchased at an average price of $70.41 per share, with a total value of $1,771,093.14. Following the completion of the transaction, the director directly owned 553,700 shares of the company's stock, valued at approximately $38,986,017. This trade represents a 4.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Lehmkuhl purchased 750 shares of the business's stock in a transaction on Friday, September 5th. The shares were acquired at an average price of $72.84 per share, with a total value of $54,630.00. Following the purchase, the director owned 27,684 shares of the company's stock, valued at approximately $2,016,502.56. This trade represents a 2.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 36,742 shares of company stock valued at $2,601,704 over the last quarter. 1.80% of the stock is currently owned by insiders.

Agree Realty Price Performance

Shares of ADC stock opened at $75.16 on Friday. Agree Realty Corporation has a 12 month low of $67.58 and a 12 month high of $79.65. The company has a market capitalization of $8.32 billion, a P/E ratio of 44.74, a P/E/G ratio of 2.42 and a beta of 0.55. The stock has a 50 day moving average of $72.19 and a two-hundred day moving average of $73.62. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59.

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

Agree Realty Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.262 dividend. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from Agree Realty's previous monthly dividend of $0.26. Agree Realty's dividend payout ratio is currently 182.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADC shares. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Morgan Stanley lowered shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 target price on the stock. in a research note on Friday, July 11th. Weiss Ratings reissued a "hold (c+)" rating on shares of Agree Realty in a research report on Wednesday, October 8th. Barclays decreased their price target on shares of Agree Realty from $78.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, August 20th. Finally, UBS Group raised their price target on Agree Realty from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $80.63.

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.

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