Agree Realty Corporation $ADC Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP cut its stake in Agree Realty Corporation (NYSE:ADC - Free Report) by 84.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,181 shares of the real estate investment trust's stock after selling 501,365 shares during the period. Engineers Gate Manager LP owned about 0.07% of Agree Realty worth $6,830,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pasadena Private Wealth LLC purchased a new position in Agree Realty in the fourth quarter worth approximately $1,349,000. Lasalle Investment Management Securities LLC raised its holdings in shares of Agree Realty by 6.2% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust's stock valued at $48,586,000 after purchasing an additional 39,119 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Agree Realty by 7.5% in the 1st 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 purchasing an additional 54,478 shares in the last quarter. Vision Capital Corp purchased a new stake in shares of Agree Realty during the 4th quarter worth $3,920,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Agree Realty by 6,172.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust's stock worth $6,926,000 after purchasing an additional 99,003 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ADC shares. Huntington assumed coverage on Agree Realty in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 price target on the stock. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Barclays raised their target price on Agree Realty from $84.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 25th. Finally, Robert W. Baird set a $83.00 price target on Agree Realty in a report on Friday, July 31st. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.94.

Agree Realty Stock Down 0.3%

Shares of NYSE:ADC opened at $71.26 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of 38.31, a P/E/G ratio of 2.34 and a beta of 0.46. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The firm has a fifty day moving average price of $76.05 and a 200 day moving average price of $76.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share 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 firm had revenue of $216.33 million during the quarter, compared to analysts' expectations of $204.53 million. During the same period in the previous year, the firm earned $1.06 EPS. The firm's 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. Sell-side analysts predict that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be paid a $0.267 dividend. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Agree Realty's dividend payout ratio is presently 172.04%.

Insider Buying and Selling

In other Agree Realty news, Director John Rakolta, Jr. bought 20,000 shares of the business's stock in a transaction on Thursday, August 27th. The stock was bought at an average price of $73.23 per share, for a total transaction of $1,464,600.00. Following the completion of the transaction, the director owned 622,061 shares in the company, valued at approximately $45,553,527.03. The trade was a 3.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

Agree Realty Company Profile

Agree Realty Corporation NYSE: ADC is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty's portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.

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