Agree Realty Corporation $ADC Shares Sold by CoreCap Advisors LLC

Key Points

• CoreCap Advisors cut its Agree Realty stake by 94.8% in the third quarter, selling 76,056 shares and retaining 4,213 shares worth about $281,000. Institutional investors collectively own 97.83% of ADC.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $82.81, compared with the stock’s opening price of $66.17.
• Agree Realty declared a monthly dividend of $0.267 per share, equivalent to an annualized $3.20 payout and a 4.8% yield. Recent insider buying totaled 48,496 shares worth approximately $3.42 million.

CoreCap Advisors LLC lessened its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 94.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,213 shares of the real estate investment trust's stock after selling 76,056 shares during the quarter. CoreCap Advisors LLC's holdings in Agree Realty were worth $281,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ADC. Clearstead Trust LLC bought a new position in Agree Realty in the second quarter valued at $33,000. Elevation Wealth Partners LLC boosted its stake in shares of Agree Realty by 172.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 430 shares of the real estate investment trust's stock worth $29,000 after buying an additional 272 shares during the last quarter. CX Institutional boosted its stake in shares of Agree Realty by 852.2% during the 3rd quarter. CX Institutional now owns 438 shares of the real estate investment trust's stock worth $29,000 after buying an additional 392 shares during the last quarter. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Agree Realty during the 3rd quarter worth about $32,000. Finally, Transamerica Financial Advisors LLC bought a new position in shares of Agree Realty in the 2nd quarter valued at about $45,000. Institutional investors own 97.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADC. Barclays lifted their target price on Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Truist Financial began coverage on Agree Realty in a research report on Thursday, October 1st. They set a "buy" rating and a $75.00 price target for the company. Robert W. Baird set a $83.00 price target on Agree Realty in a research note on Friday, July 31st. Wall Street Zen lowered Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings lowered Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $82.81.

Agree Realty Trading Up 0.3%

Agree Realty stock opened at $66.17 on Tuesday. Agree Realty Corporation has a 52 week low of $64.43 and a 52 week high of $82.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $8.23 billion, a P/E ratio of 35.58, a PEG ratio of 2.21 and a beta of 0.42. The stock has a 50-day simple moving average of $70.99 and a 200 day simple moving average of $74.56.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The business had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. During the same quarter in the prior year, the company earned $1.06 EPS. Agree Realty's quarterly revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Analysts expect that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be paid a $0.2670 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, September 30th. Agree Realty's dividend payout ratio is 172.04%.

Insider Activity at Agree Realty

In other Agree Realty news, insider Craig Erlich purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, September 21st. The shares were acquired at an average price of $67.55 per share, for a total transaction of $67,550.00. Following the purchase, the insider owned 60,388 shares in the company, valued at approximately $4,079,209.40. The trade was a 1.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Rakolta, Jr. purchased 20,000 shares of the business's stock in a transaction on Wednesday, September 16th. The shares were acquired at an average cost of $68.78 per share, with a total value of $1,375,600.00. Following the acquisition, the director directly owned 654,602 shares in the company, valued at approximately $45,023,525.56. The trade was a 3.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 48,496 shares of company stock worth $3,418,670. Company insiders own 1.80% of the company's stock.

Agree Realty Profile

Agree Realty Corporation is a real estate investment trust (REIT) that owns, develops, acquires and manages retail properties leased primarily under long-term, single-tenant net lease agreements. Under these arrangements, tenants generally assume responsibility for property-level expenses such as taxes, insurance and maintenance.

The company focuses on necessity-based retail properties, including locations occupied by grocery stores, home improvement retailers, discount retailers, pharmacies and other service-oriented businesses.

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Corporation (NYSE:ADC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.