Bank of New York Mellon Corp Has $66.91 Million Holdings in Agree Realty Corporation $ADC

Key Points

• Bank of New York Mellon reduced its Agree Realty stake by 5% in the fourth quarter, but still held 928,905 shares worth about $66.9 million at the end of the period.
• Agree Realty reported better-than-expected quarterly results, posting EPS of $0.50 versus $0.47 expected and revenue of $211.49 million, up 18.7% from a year earlier.
• The company also highlighted recent insider buying, including purchases by Director Greg Lehmkuhl and Chairman Richard Agree, while analysts currently rate the stock a Moderate Buy with an average price target of $83.80.

Bank of New York Mellon Corp cut its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 928,905 shares of the real estate investment trust's stock after selling 48,744 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Agree Realty worth $66,909,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ADC. Clearstead Trust LLC increased its position in shares of Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock worth $27,000 after buying an additional 242 shares during the period. Wiser Advisor Group LLC acquired a new stake in shares of Agree Realty during the third quarter worth $32,000. Creative Financial Designs Inc. ADV increased its position 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 buying an additional 192 shares during the period. Clearstead Advisors LLC increased its position in shares of Agree Realty by 163.8% during the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock worth $33,000 after buying an additional 285 shares during the period. Finally, Capital Advisors Ltd. LLC grew its holdings in Agree Realty by 178.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 350 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADC shares. UBS Group raised their price target on shares of Agree Realty from $82.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, March 9th. BMO Capital Markets cut shares of Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price target for the company. in a report on Friday, April 17th. Royal Bank Of Canada raised their price target on shares of Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Stifel Nicolaus raised their price target on shares of Agree Realty from $83.50 to $84.50 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.80.

Agree Realty Stock Up 1.7%

Agree Realty stock opened at $74.49 on Wednesday. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. The firm's fifty day moving average price is $75.96 and its two-hundred day moving average price is $75.25. 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 (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share 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 firm had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same period last year, the firm earned $0.42 earnings per share. The business'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 research analysts predict that Agree Realty Corporation will post 4.44 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Insider Buying and Selling

In other news, Director Greg Lehmkuhl acquired 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the purchase, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard Agree purchased 5,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $71.41 per share, with a total value of $357,050.00. Following the purchase, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 19,191 shares of company stock worth $1,426,994. Insiders own 1.80% of the company's stock.

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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