Alyeska Investment Group L.P. Sells 199,222 Shares of Agree Realty Corporation $ADC

Key Points

• Alyeska Investment Group cut its Agree Realty stake by 32.8%, selling 199,222 shares and retaining 408,571 shares valued at about $30.9 million. Institutional investors and hedge funds collectively own 97.83% of the REIT.
• Agree Realty reported quarterly EPS of $0.44, below the $0.48 consensus estimate, while revenue rose 16.8% year over year to $216.33 million. The stock opened at $73.21, below the analyst consensus price target of $83.94.
• The company declared a monthly dividend of $0.267 per share, representing an annualized yield of approximately 4.4%. Analysts maintain a “Moderate Buy” consensus, and Chairman Richard Agree recently purchased 5,000 shares.

Alyeska Investment Group L.P. trimmed its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 32.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 408,571 shares of the real estate investment trust's stock after selling 199,222 shares during the quarter. Alyeska Investment Group L.P. owned about 0.33% of Agree Realty worth $30,945,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADC. Jane Street Group LLC grew its stake in Agree Realty by 268.9% during the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust's stock worth $2,112,000 after buying an additional 19,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Agree Realty by 158.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 356 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Agree Realty in the second quarter worth $1,875,000. EverSource Wealth Advisors LLC raised its stake in Agree Realty by 245.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust's stock worth $99,000 after acquiring an additional 965 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Agree Realty by 46.8% in the second quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust's stock valued at $5,421,000 after purchasing an additional 23,662 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Up 0.0%

ADC stock opened at $73.21 on Monday. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The firm has a 50-day simple moving average of $76.77 and a 200-day simple moving average of $76.78. The stock has a market capitalization of $9.11 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.39 and a beta of 0.47.

Agree Realty (NYSE:ADC - Get Free Report) last posted 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). The firm had revenue of $216.33 million during the quarter, compared to analyst estimates of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company's quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.267 dividend. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 31st. Agree Realty's dividend payout ratio is currently 172.04%.

Insiders Place Their Bets

In other news, Chairman Richard Agree acquired 5,000 shares of the firm's 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. This trade represents a 5.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Huntington assumed coverage on Agree Realty in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 target price on the stock. Barclays lifted their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group started coverage on shares of Agree Realty in a research note on Monday, June 1st. They issued a "buy" rating and a $84.00 price objective on the stock. Mizuho reduced their target price on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 25th. 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.94.

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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