Agree Realty Corporation $ADC Shares Sold by Aristotle Capital Boston LLC

Key Points

• Aristotle Capital Boston LLC reduced its stake in Agree Realty by 9.8% in the fourth quarter, selling 24,179 shares and ending with 221,606 shares valued at about $15.96 million.
• Analysts remain broadly positive on ADC, with a consensus rating of “Moderate Buy” and an average price target of $83.80 after several firms raised their targets.
• Agree Realty beat quarterly expectations, reporting EPS of $0.50 versus $0.47 expected and revenue of $211.49 million, while also declaring a quarterly dividend of $0.267 per share.

Aristotle Capital Boston LLC trimmed its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,606 shares of the real estate investment trust's stock after selling 24,179 shares during the quarter. Aristotle Capital Boston LLC owned 0.18% of Agree Realty worth $15,962,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADC. Jane Street Group LLC raised its holdings in shares of Agree Realty by 268.9% in the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust's stock worth $2,112,000 after purchasing an additional 19,948 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Agree Realty by 158.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 356 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Agree Realty during the 2nd quarter valued at about $1,875,000. EverSource Wealth Advisors LLC raised its holdings in shares of Agree Realty by 245.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust's stock valued at $99,000 after buying an additional 965 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Agree Realty by 46.8% during the 2nd quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust's stock valued at $5,421,000 after buying an additional 23,662 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADC. Citigroup raised their target price on Agree Realty from $77.00 to $82.50 and gave the company a "neutral" rating in a report on Friday, April 24th. Raymond James Financial raised their target price on Agree Realty from $84.00 to $90.00 and gave the company a "strong-buy" rating in a report on Tuesday, March 17th. Royal Bank Of Canada raised their target price on Agree Realty from $81.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Morgan Stanley set a $81.00 price objective on Agree Realty in a report on Tuesday, April 21st. Finally, Robert W. Baird lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.80.

Agree Realty Price Performance

ADC stock opened at $73.82 on Thursday. 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 52-week low of $69.56 and a 52-week high of $82.08. The stock's 50 day moving average is $75.84 and its two-hundred day moving average is $75.26. The company has a market capitalization of $8.87 billion, a PE ratio of 39.90, a P/E/G ratio of 2.51 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Agree Realty's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Analysts predict that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.267 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. Agree Realty's dividend payout ratio (DPR) is presently 172.97%.

Insider Transactions at Agree Realty

In other news, Director Greg Lehmkuhl bought 750 shares of the firm's stock in a transaction dated 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 owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard Agree bought 5,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $71.41 per share, with a total value of $357,050.00. Following the transaction, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. This represents a 5.85% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 19,191 shares of company stock worth $1,426,994. 1.80% of the stock is currently owned by corporate insiders.

About Agree Realty

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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