Agree Realty Corporation $ADC Shares Bought by UBS Group AG

Key Points

• UBS Group AG increased its stake in Agree Realty by 28.9% in the fourth quarter, buying 67,686 additional shares and bringing its total to 302,257 shares worth about $21.8 million.
• Agree Realty reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.47 estimate and revenue of $211.49 million, up 18.7% year over year.
• The REIT also raised its monthly dividend to $0.267 per share, implying an annualized yield of about 4.2%; analysts currently rate the stock a consensus Moderate Buy with an average price target of $84.36.

UBS Group AG increased its holdings in Agree Realty Corporation (NYSE:ADC - Free Report) by 28.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,257 shares of the real estate investment trust's stock after purchasing an additional 67,686 shares during the quarter. UBS Group AG owned 0.26% of Agree Realty worth $21,772,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Evergreen Capital Management LLC grew its position in 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 worth $430,000 after buying an additional 154 shares during the last quarter. AE Wealth Management LLC boosted its stake in shares of Agree Realty by 3.5% during the 3rd quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust's stock worth $331,000 after acquiring an additional 156 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 171 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Agree Realty by 5.4% in the 3rd quarter. QRG Capital Management Inc. now owns 3,395 shares of the real estate investment trust's stock worth $241,000 after acquiring an additional 174 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its position in shares of Agree Realty by 5.8% during the third quarter. HighPoint Advisor Group LLC now owns 3,162 shares of the real estate investment trust's stock worth $225,000 after purchasing an additional 174 shares during the period. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Stock Up 0.3%

Shares of Agree Realty stock opened at $76.45 on Tuesday. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The company has a market cap of $9.18 billion, a P/E ratio of 41.32, a P/E/G ratio of 2.61 and a beta of 0.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $77.77 and a 200 day moving average price of $75.11.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $211.49 million for 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 firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, analysts expect that Agree Realty Corporation will post 4.43 EPS for the current fiscal year.

Agree Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a $0.267 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a yield of 4.2%. This is a boost from Agree Realty's previous monthly dividend of $0.26. Agree Realty's dividend payout ratio (DPR) is currently 172.97%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADC shares. UBS Group increased their price target on Agree Realty from $82.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, March 9th. Citigroup upped their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the company a "neutral" rating in a research note on Friday, April 24th. Truist Financial raised their target price on shares of Agree Realty from $79.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Raymond James Financial boosted their price target on shares of Agree Realty from $84.00 to $90.00 and gave the company a "strong-buy" rating in a report on Tuesday, March 17th. Finally, Weiss Ratings upgraded shares of Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued 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 price target of $84.36.

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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