Agree Realty Corporation $ADC Shares Acquired by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its stake in Agree Realty by 12.7% in the fourth quarter, adding 17,107 shares to bring its total holdings to 151,476 shares worth about $10.9 million.
• Agree Realty reported stronger-than-expected quarterly results, posting $0.50 EPS versus the $0.47 consensus and revenue of $211.49 million, while also raising its FY 2026 EPS guidance to 4.540-4.580.
• The company declared a quarterly dividend of $0.267 per share, payable June 12, and management insiders recently bought shares, including CEO Joey Agree and Director Greg Lehmkuhl.

BNP Paribas Financial Markets lifted its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 12.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 151,476 shares of the real estate investment trust's stock after acquiring an additional 17,107 shares during the period. BNP Paribas Financial Markets owned 0.13% of Agree Realty worth $10,911,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased 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 valued at $1,133,114,000 after purchasing an additional 84,568 shares during the period. State Street Corp increased its stake in shares of Agree Realty by 0.5% in the third quarter. State Street Corp now owns 5,792,525 shares of the real estate investment trust's stock valued at $412,954,000 after purchasing an additional 27,546 shares during the period. Principal Financial Group Inc. increased its stake in shares of Agree Realty by 80.8% in the fourth quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust's stock valued at $309,266,000 after purchasing an additional 1,918,427 shares during the period. Centersquare Investment Management LLC increased its stake in shares of Agree Realty by 1.8% in the third quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust's stock valued at $205,748,000 after purchasing an additional 51,269 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Agree Realty by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 2,509,922 shares of the real estate investment trust's stock valued at $180,823,000 after purchasing an additional 117,346 shares during the period. Institutional investors own 97.83% of the company's stock.

Agree Realty Trading Up 0.0%

Agree Realty stock opened at $73.44 on Monday. The company has a 50 day moving average price of $75.97 and a 200 day moving average price of $75.24. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 39.70, a P/E/G ratio of 2.47 and a beta of 0.48.

Agree Realty (NYSE:ADC - Get Free Report) last posted 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. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same quarter last year, the business posted $0.42 EPS. The company's revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Research analysts forecast that Agree Realty Corporation will post 4.44 EPS for the current year.

Agree Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a $0.267 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.07 dividend on an annualized basis and a yield of 1.5%. Agree Realty's dividend payout ratio is presently 172.97%.

Insider Buying and Selling

In related news, Director Greg Lehmkuhl bought 750 shares of the business's stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the transaction, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. This represents a 2.22% 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 this link. Also, CEO Joey Agree bought 13,295 shares of the business's stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the transaction, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This 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 quarter, insiders acquired 14,191 shares of company stock valued at $1,069,944. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Stifel Nicolaus increased their price objective on shares of Agree Realty from $83.50 to $84.50 and gave the company a "buy" rating in a report on Wednesday, February 11th. UBS Group increased their price objective on shares of Agree Realty from $82.00 to $91.00 and gave the company a "buy" rating in a report on Monday, March 9th. Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.80.

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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