AXQ Capital LP Purchases Shares of 16,105 Agree Realty Corporation $ADC

Key Points

• AXQ Capital acquired 16,105 shares of Agree Realty in the second quarter, valued at approximately $1.22 million. Institutional investors and hedge funds collectively own 97.83% of the REIT.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year, but earnings per share of $0.44 missed analysts’ $0.48 estimate. Shares recently opened at $72.67, below the consensus analyst price target of $83.94.
• The company declared a monthly dividend of $0.267 per share, representing an annualized yield of about 4.4%. Director John Rakolta Jr. also purchased 20,000 shares worth roughly $1.46 million.

AXQ Capital LP acquired a new position in Agree Realty Corporation (NYSE:ADC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,105 shares of the real estate investment trust's stock, valued at approximately $1,220,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Agree Realty in the second quarter worth about $1,447,551,000. Bank of America Corp DE acquired a new position in Agree Realty during the 2nd quarter worth approximately $130,921,000. Norges Bank purchased a new position in Agree Realty in the 4th quarter worth approximately $116,114,000. Deutsche Bank AG acquired a new stake in Agree Realty in the second quarter valued at approximately $104,747,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Agree Realty during the second quarter worth $92,533,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Performance

Shares of NYSE ADC opened at $72.67 on Friday. 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's 50-day moving average price is $76.51 and its two-hundred day moving average price is $76.63. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The stock has a market capitalization of $9.04 billion, a P/E ratio of 39.07, a P/E/G ratio of 2.37 and a beta of 0.46.

Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, sell-side analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Dividend Announcement

The business 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 dividend of $0.267 per share. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, August 31st. Agree Realty's dividend payout ratio is presently 172.04%.

Insiders Place Their Bets

In related news, Director John Rakolta, Jr. bought 20,000 shares of the company's stock in a transaction on Thursday, August 27th. The shares were purchased at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the completion of the transaction, the director directly owned 622,061 shares of the company's stock, valued at approximately $45,553,527.03. This represents a 3.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on ADC. Jefferies Financial Group initiated coverage on Agree Realty in a research note on Monday, June 1st. They issued a "buy" rating and a $84.00 price target on the stock. Huntington initiated coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price target for the company. Weiss Ratings raised shares of Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 25th. Barclays raised their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Finally, Robert W. Baird set a $83.00 price target on shares of Agree Realty in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.

Agree Realty 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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