Agree Realty Corporation $ADC Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Institutional buying increased in Agree Realty, with the Commonwealth of Pennsylvania Public School Empls Retrmt SYS raising its stake by 24% in the first quarter to 81,446 shares worth about $6.14 million. Overall, institutional investors and hedge funds now own 97.83% of the company.
• Insiders also bought shares, including Chairman Richard Agree and CEO Joey Agree, who together purchased more than 18,000 shares in recent transactions. Insider buying totaled 19,045 shares valued at about $1.42 million over the last quarter.
• Agree Realty reported solid quarterly results, posting EPS of $0.50 versus $0.47 expected and revenue of $211.49 million, up 18.7% year over year. The company also announced a quarterly dividend of $0.267 per share, payable July 15, for an annualized yield of 1.4%.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 24.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 81,446 shares of the real estate investment trust's stock after acquiring an additional 15,747 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.07% of Agree Realty worth $6,139,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Clearstead Trust LLC increased its stake in Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 242 shares during the last quarter. Wiser Advisor Group LLC purchased a new position in Agree Realty during the third quarter worth about $32,000. Creative Financial Designs Inc. ADV boosted its stake in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after buying an additional 192 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock worth $33,000 after buying an additional 285 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in Agree Realty by 178.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 350 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Richard Agree acquired 5,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the acquisition, the chairman directly owned 90,512 shares of the company's stock, valued at $6,463,461.92. This represents a 5.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joey Agree acquired 13,295 shares of the business's stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the acquisition, the chief executive officer directly owned 675,105 shares in the company, valued at $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. Insiders have bought 19,045 shares of company stock valued at $1,415,943 in the last quarter. Company insiders own 1.80% of the company's stock.

Agree Realty Stock Down 0.7%

NYSE ADC opened at $78.05 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The business has a 50 day moving average price of $75.44 and a two-hundred day moving average price of $75.75. The stock has a market cap of $9.37 billion, a PE ratio of 42.19, a P/E/G ratio of 2.61 and a beta of 0.47.

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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business's quarterly 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. As a group, sell-side analysts predict that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.267 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty's payout ratio is 172.97%.

Analyst Upgrades and Downgrades

ADC has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Citigroup raised their target price on shares of Agree Realty from $77.00 to $82.50 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a report on Tuesday, April 21st. Raymond James Financial upped their price target on shares of Agree Realty from $84.00 to $90.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, March 17th. Finally, Robert W. Baird increased their price target on shares of Agree Realty from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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