AlphaQuest LLC Acquires 47,276 Shares of Agree Realty Corporation $ADC

Key Points

• AlphaQuest LLC dramatically increased its stake in Agree Realty, boosting holdings by 1,832.4% in the fourth quarter to 49,856 shares worth about $3.59 million.
• Insider buying was notable, with director Greg Lehmkuhl and CEO Joey Agree both purchasing shares on May 14; insiders have bought 14,191 shares over the last 90 days.
• Agree Realty beat quarterly expectations, reporting EPS of $0.50 versus $0.47 expected and revenue of $211.49 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $83.79.

AlphaQuest LLC raised its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 1,832.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,856 shares of the real estate investment trust's stock after buying an additional 47,276 shares during the quarter. AlphaQuest LLC's holdings in Agree Realty were worth $3,591,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADC. Clearstead Trust LLC boosted its holdings in Agree Realty by 192.1% in the 4th 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 period. Westside Investment Management Inc. increased its stake in Agree Realty by 100.0% during the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 215 shares during the period. Wiser Advisor Group LLC acquired a new position in Agree Realty in the 3rd quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV raised its holdings 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 valued at $33,000 after acquiring an additional 192 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of 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 acquiring an additional 285 shares during the period. 97.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the purchase, the director owned 34,465 shares in the company, valued at $2,587,976.85. This represents a 2.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joey Agree purchased 13,295 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares of the company's stock, valued at $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 14,191 shares of company stock worth $1,069,944 in the last 90 days. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Truist Financial lifted their price objective on Agree Realty from $79.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Citigroup raised their target price on Agree Realty from $77.00 to $82.50 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Stifel Nicolaus boosted their price target on shares of Agree Realty from $83.50 to $84.50 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Barclays dropped their price objective on shares of Agree Realty from $86.00 to $84.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Agree Realty currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.79.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $75.42 on Tuesday. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 40.77, a P/E/G ratio of 2.54 and a beta of 0.50. The firm's 50-day moving average price is $76.69 and its two-hundred day moving average price is $75.23. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08.

Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $195.73 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. Agree Realty's quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities analysts predict that Agree Realty Corporation will post 4.44 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.267 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.07 dividend on an annualized basis and a yield of 1.4%. Agree Realty's payout ratio is currently 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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