BROOKFIELD Corp ON Has $8.77 Million Stock Holdings in Agree Realty Corporation $ADC

Key Points

• BROOKFIELD Corp ON reduced its position in Agree Realty Corporation by 66.9%, holding approximately $8.77 million worth of shares after selling a significant portion.
• Agree Realty's quarterly earnings showed an EPS of $1.06, exceeding analysts' expectations, with revenues increasing 15% year-over-year.
• The company declared a dividend of $0.256 per share, with a dividend yield of 430.0% and a payout ratio of 182.74%.

BROOKFIELD Corp ON trimmed its stake in Agree Realty Corporation (NYSE:ADC - Free Report) by 66.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,606 shares of the real estate investment trust's stock after selling 229,407 shares during the quarter. BROOKFIELD Corp ON owned 0.10% of Agree Realty worth $8,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ADC. Cullen Frost Bankers Inc. purchased a new stake in shares of Agree Realty in the first quarter worth approximately $27,000. Bernard Wealth Management Corp. purchased a new stake in shares of Agree Realty in the fourth quarter worth approximately $31,000. SVB Wealth LLC purchased a new stake in shares of Agree Realty in the first quarter worth approximately $33,000. Capital Advisors Ltd. LLC lifted its position in shares of Agree Realty by 137.8% in the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 270 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in Agree Realty in the first quarter worth approximately $39,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Agree Realty

In related news, Director Greg Lehmkuhl acquired 750 shares of the company's stock in a transaction on Friday, September 5th. The stock was purchased at an average cost of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the purchase, the director directly owned 27,684 shares of the company's stock, valued at $2,016,502.56. The trade was a 2.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joey Agree bought 4,108 shares of the stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average price of $72.15 per share, with a total value of $296,392.20. Following the completion of the purchase, the chief executive officer owned 633,060 shares of the company's stock, valued at $45,675,279. This represents a 0.65% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 7,700 shares of company stock valued at $555,926 over the last quarter. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADC. JMP Securities restated a "market perform" rating on shares of Agree Realty in a report on Monday, June 30th. Truist Financial set a $84.00 price objective on Agree Realty in a report on Friday, August 8th. Evercore ISI increased their price objective on Agree Realty from $83.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday. UBS Group increased their price objective on Agree Realty from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, Mizuho decreased their target price on Agree Realty from $78.00 to $77.00 and set a "neutral" rating for the company in a research report on Thursday, September 11th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.58.

Agree Realty Price Performance

Agree Realty stock traded up $0.28 during mid-day trading on Wednesday, hitting $72.34. 172,365 shares of the company were exchanged, compared to its average volume of 1,158,977. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $72.73 and a 200 day moving average of $74.29. Agree Realty Corporation has a 1-year low of $67.58 and a 1-year high of $79.65. The company has a market capitalization of $8.01 billion, a PE ratio of 43.06, a price-to-earnings-growth ratio of 2.44 and a beta of 0.56.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data 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 return on equity of 3.47% and a net margin of 28.16%.The firm had revenue of $175.53 million during the quarter, compared to analyst estimates of $173.95 million. During the same period in the prior year, the company posted $1.04 earnings per share. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, sell-side analysts expect that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.256 per share. This represents a yield of 430.0%. The ex-dividend date is Tuesday, September 30th. Agree Realty's dividend payout ratio is currently 182.74%.

Agree Realty 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.