Agree Realty Corporation $ADC Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its Agree Realty stake by 159.8% in the second quarter, acquiring 113,520 additional shares and bringing its holdings to 184,545 shares worth approximately $14.0 million. Institutional investors collectively own 97.83% of the REIT.
• Director John Rakolta Jr. purchased 20,000 shares for about $1.46 million, increasing his position by 3.32%. Corporate insiders own 1.80% of the company.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year, but earnings per share of $0.44 fell short of the $0.48 analyst estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.94, while the company announced a monthly dividend of $0.267 per share.

Wellington Management Group LLP lifted its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 159.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 184,545 shares of the real estate investment trust's stock after acquiring an additional 113,520 shares during the period. Wellington Management Group LLP owned 0.15% of Agree Realty worth $13,977,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pasadena Private Wealth LLC purchased a new position in shares of Agree Realty in the 4th quarter valued at $1,349,000. Lasalle Investment Management Securities LLC raised its stake in Agree Realty by 6.2% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust's stock worth $48,586,000 after acquiring an additional 39,119 shares in the last quarter. Vision Capital Corp purchased a new stake in Agree Realty in the fourth quarter valued at $3,920,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Agree Realty by 7.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust's stock valued at $58,916,000 after acquiring an additional 54,478 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Agree Realty by 6,172.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust's stock valued at $6,926,000 after acquiring an additional 99,003 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Agree Realty

In other news, Director John Rakolta, Jr. acquired 20,000 shares of the company's stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the purchase, the director owned 622,061 shares of the company's stock, valued at $45,553,527.03. This represents a 3.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Agree Realty Stock Performance

Shares of ADC stock opened at $72.67 on Tuesday. The stock's 50-day moving average price is $76.43 and its 200 day moving average price is $76.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $9.04 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 2.37 and a beta of 0.46. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share 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 company had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. During the same period in the previous year, the business posted $1.06 earnings per share. The firm's revenue was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities research analysts forecast 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. Investors of record on Monday, August 31st will be given a $0.267 dividend. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, August 31st. Agree Realty's dividend payout ratio (DPR) is 172.04%.

Analysts Set New Price Targets

ADC has been the topic of several research reports. Weiss Ratings raised Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 25th. Robert W. Baird set a $83.00 target price on Agree Realty in a research report on Friday, July 31st. Mizuho decreased their target price 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. 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. Finally, Huntington began coverage on Agree Realty in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.94.

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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