Ceredex Value Advisors LLC Acquires New Holdings in Agree Realty Corporation $ADC

Key Points

• Ceredex Value Advisors acquired 137,300 shares of Agree Realty in the second quarter, worth approximately $10.4 million, giving it a 0.11% stake. Institutional investors collectively own 97.83% of the REIT.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year and above estimates, but earnings per share of $0.44 missed the $0.48 consensus forecast.
• The company declared a monthly dividend of $0.267 per share, representing an annualized yield of about 4.3%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $83.94, compared with the stock’s $74.45 opening price.

Ceredex Value Advisors LLC bought a new position in Agree Realty Corporation (NYSE:ADC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 137,300 shares of the real estate investment trust's stock, valued at approximately $10,399,000. Ceredex Value Advisors LLC owned about 0.11% of Agree Realty as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ADC. Clearstead Trust LLC grew its holdings in Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 242 shares during the last quarter. Wiser Advisor Group LLC bought a new position in shares of Agree Realty in the third quarter valued at approximately $32,000. Clearstead Advisors LLC lifted its stake in shares of Agree Realty by 163.8% in 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 last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Agree Realty by 71.1% in 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 last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in shares of Agree Realty by 214.4% during the 4th quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock worth $40,000 after buying an additional 373 shares during the period. Institutional investors own 97.83% of the company's stock.

Agree Realty Stock Up 0.1%

Shares of NYSE ADC opened at $74.45 on Friday. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The firm's 50-day simple moving average is $76.82 and its 200 day simple moving average is $76.78. 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 company has a market cap of $9.26 billion, a price-to-earnings ratio of 40.03, a price-to-earnings-growth ratio of 2.43 and a beta of 0.47.

Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. During the same period in the prior year, the firm posted $1.06 earnings per share. The company's revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, research analysts expect 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. Shareholders of record on Monday, August 31st will be given a $0.267 dividend. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, August 31st. Agree Realty's dividend payout ratio (DPR) is presently 172.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports 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 price target on the stock. 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 for the company. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research report on Friday, July 31st. Mizuho lowered their target price on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.

Insider Activity at Agree Realty

In other news, Chairman Richard Agree bought 5,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. The trade was a 5.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

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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