AlphaQuest LLC Sells 6,522 Shares of Agree Realty Corporation $ADC

Key Points

• AlphaQuest LLC reduced its stake in Agree Realty Corporation by 13.8% during the first quarter, owning 40,831 shares worth approximately $3.15 million as of its latest SEC filing.
• Agree Realty recently announced a monthly dividend of $0.256 per share, which translates to a 4.2% dividend yield, with a payout ratio of 182.74%.
• Recent analyst updates include UBS raising its price target on Agree Realty from $80.00 to $82.00 and Mizuho lowering it from $81.00 to $78.00, indicating varying sentiments in the market.

AlphaQuest LLC lessened its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,831 shares of the real estate investment trust's stock after selling 6,522 shares during the quarter. Agree Realty makes up about 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 14th largest holding. AlphaQuest LLC's holdings in Agree Realty were worth $3,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADC. Cullen Frost Bankers Inc. purchased a new position in shares of Agree Realty in the 1st quarter valued at approximately $27,000. Bernard Wealth Management Corp. purchased a new position in shares of Agree Realty during the fourth quarter valued at approximately $31,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Agree Realty by 137.8% during the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Agree Realty during the first quarter valued at approximately $39,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Agree Realty by 415.1% during the first quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

ADC stock traded down $0.9750 on Friday, hitting $73.0650. The company had a trading volume of 701,347 shares, compared to its average volume of 976,101. Agree Realty Corporation has a 12-month low of $67.58 and a 12-month high of $79.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. The stock's 50-day simple moving average is $73.11 and its 200 day simple moving average is $74.28. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 43.49, a P/E/G ratio of 2.38 and a beta of 0.55.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company had revenue of $175.53 million for the quarter, compared to analysts' expectations of $173.95 million. During the same quarter last year, the company posted $1.04 earnings per share. The firm's quarterly revenue was up 15.0% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, equities research analysts expect that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.256 dividend. The ex-dividend date is Friday, August 29th. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty's dividend payout ratio (DPR) is presently 182.74%.

Insiders Place Their Bets

In other Agree Realty news, CEO Joey Agree purchased 4,108 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $72.15 per share, for a total transaction of $296,392.20. Following the completion of the transaction, the chief executive officer owned 633,060 shares of the company's stock, valued at approximately $45,675,279. The trade was a 0.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 6,950 shares of company stock valued at $501,296 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADC has been the subject of several recent research reports. UBS Group lifted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Truist Financial set a $84.00 target price on shares of Agree Realty in a report on Friday, August 8th. Morgan Stanley downgraded shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price target for the company. in a research report on Friday, July 11th. Mizuho reduced their price target on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Finally, BTIG Research downgraded shares of Agree Realty from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 7th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Agree Realty presently has a consensus rating of "Moderate Buy" and an average price target of $80.50.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.