Corient Private Wealth LP Sells 40,790 Shares of Agree Realty Corporation $ADC

Key Points

• Corient Private Wealth LP cut its Agree Realty stake by 83.6% in the second quarter, selling 40,790 shares and retaining 7,990 shares worth approximately $605,000. Institutional investors collectively own 97.83% of the REIT.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year, but its $0.44 EPS fell short of the $0.48 analyst consensus. Shares opened at $67.62, near the company’s 52-week low.
• The REIT declared a monthly dividend of $0.267 per share, equivalent to an annualized $3.20 payout and a 4.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.25, while insiders purchased nearly 48,500 shares over the past 90 days.

Corient Private Wealth LP lowered its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 83.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,990 shares of the real estate investment trust's stock after selling 40,790 shares during the quarter. Corient Private Wealth LP's holdings in Agree Realty were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Private Advisor Group LLC grew its holdings in Agree Realty by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust's stock worth $231,000 after buying an additional 145 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its position in Agree Realty by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust's stock worth $1,070,000 after acquiring an additional 154 shares during the period. IFM Investors Pty Ltd grew its stake in shares of Agree Realty by 0.9% in the first quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust's stock worth $1,402,000 after purchasing an additional 171 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Agree Realty by 3.4% in the first quarter. Integrated Investment Consultants LLC now owns 5,771 shares of the real estate investment trust's stock worth $435,000 after purchasing an additional 192 shares in the last quarter. Finally, Westpac Banking Corp grew its stake in shares of Agree Realty by 1.3% in the first quarter. Westpac Banking Corp now owns 21,333 shares of the real estate investment trust's stock worth $1,608,000 after purchasing an additional 283 shares in the last quarter. Institutional investors own 97.83% of the company's stock.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $67.62 on Wednesday. Agree Realty Corporation has a 52 week low of $66.50 and a 52 week high of $82.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. The stock has a market cap of $8.41 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 2.20 and a beta of 0.46. The company's 50-day moving average price is $73.47 and its two-hundred day moving average price is $75.35.

Agree Realty (NYSE:ADC - Get Free Report) last announced 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 business 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 business's revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, sell-side analysts anticipate that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be issued a $0.2670 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 4.7%. Agree Realty's dividend payout ratio is currently 172.04%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Agree Realty from $84.00 to $81.50 and set a "buy" rating for the company in a research report on Friday, September 18th. Huntington assumed coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 price target for the company. Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Barclays raised 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. Finally, Robert W. Baird set a $83.00 target price on 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.25.

Insider Activity

In related news, insider Craig Erlich acquired 1,000 shares of the business's stock in a transaction dated Monday, September 21st. The stock was bought at an average price of $67.55 per share, for a total transaction of $67,550.00. Following the transaction, the insider owned 60,388 shares of the company's stock, valued at approximately $4,079,209.40. The trade was a 1.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Rakolta, Jr. acquired 20,000 shares of Agree Realty stock in a transaction dated Wednesday, September 16th. The shares were bought at an average cost of $68.78 per share, with a total value of $1,375,600.00. Following the completion of the purchase, the director owned 654,602 shares in the company, valued at approximately $45,023,525.56. This represents a 3.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 48,496 shares of company stock worth $3,418,670. Insiders own 1.80% of the company's stock.

Agree Realty Company Profile

Agree Realty Corporation NYSE: ADC is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty's portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.

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