Agree Realty Corporation $ADC Stock Position Lifted by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Agree Realty by 25.5% in the fourth quarter, adding 60,159 shares and bringing its total holding to 295,693 shares worth about $21.3 million.
• Analyst sentiment on ADC remains constructive overall, with a consensus Moderate Buy rating and an average price target of $83.80. Several firms recently raised targets, though a few also trimmed ratings or objectives.
• Agree Realty reported stronger-than-expected quarterly results, posting EPS of $0.50 versus $0.47 expected and revenue of $211.49 million versus $195.73 million expected. The company also announced a quarterly dividend of $0.267 per share, payable July 15.

Hsbc Holdings PLC raised its stake in Agree Realty Corporation (NYSE:ADC - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 295,693 shares of the real estate investment trust's stock after buying an additional 60,159 shares during the quarter. Hsbc Holdings PLC owned 0.25% of Agree Realty worth $21,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC grew its holdings in shares of Agree Realty by 2.7% during the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust's stock valued at $430,000 after acquiring an additional 154 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Agree Realty by 18.2% in the third 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. Fifth Third Bancorp raised its holdings in shares of Agree Realty by 2.7% during the fourth quarter. Fifth Third Bancorp now owns 6,778 shares of the real estate investment trust's stock worth $488,000 after acquiring an additional 176 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Agree Realty by 71.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 192 shares in the last quarter. Finally, Danske Bank A S boosted its position in Agree Realty by 22.2% during the fourth quarter. Danske Bank A S now owns 1,100 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADC shares. UBS Group upped their target price on Agree Realty from $82.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Raymond James Financial lifted their price target on Agree Realty from $84.00 to $90.00 and gave the company a "strong-buy" rating in a report on Tuesday, March 17th. Robert W. Baird boosted their price target on Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Mizuho dropped their price objective on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Finally, BMO Capital Markets lowered shares of Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price objective on the stock. in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.80.

Insider Buying and Selling

In related news, Director Greg Lehmkuhl bought 750 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the transaction, the director directly owned 34,465 shares of the company's stock, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard Agree purchased 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the acquisition, the chairman owned 90,512 shares of the company's stock, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 19,191 shares of company stock worth $1,426,994. 1.80% of the stock is currently owned by insiders.

Agree Realty Trading Up 1.4%

Agree Realty stock opened at $75.39 on Thursday. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The company's fifty day moving average price is $75.49 and its two-hundred day moving average price is $75.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.50 and a beta of 0.48.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $211.49 million during the quarter, compared to analysts' expectations of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The business's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

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

Agree Realty Company 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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