Cubist Systematic Strategies LLC Invests $1.16 Million in Agree Realty Corporation $ADC

Key Points

• Cubist Systematic Strategies LLC has purchased 15,044 shares of Agree Realty Corporation, valued at approximately $1,161,000, indicating increased institutional interest in the company.
• Analysts have mixed views on Agree Realty, with price targets ranging from $75.00 to $82.00, and an average rating of "Moderate Buy" based on a consensus of nine buy ratings and six hold ratings.
• Agree Realty recently announced a monthly dividend of $0.256, which results in a 4.2% annual yield for shareholders, although the payout ratio stands at 182.74%.

Cubist Systematic Strategies LLC acquired a new position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,044 shares of the real estate investment trust's stock, valued at approximately $1,161,000.

Other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in Agree Realty during the 1st quarter worth approximately $27,000. SVB Wealth LLC acquired a new position in Agree Realty during the 1st quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new position in Agree Realty during the 4th quarter worth approximately $31,000. Capital Advisors Ltd. LLC increased its position in Agree Realty by 137.8% during the 1st 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 during the 1st quarter worth approximately $39,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Trading Down 0.9%

Shares of ADC traded down $0.63 during trading hours on Friday, hitting $73.11. 790,499 shares of the stock were exchanged, compared to its average volume of 914,160. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average of $72.70 and a 200-day moving average of $74.31. The firm has a market capitalization of $8.09 billion, a P/E ratio of 43.52, a price-to-earnings-growth ratio of 2.46 and a beta of 0.56.

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

Agree Realty Dividend Announcement

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

Insider Activity at Agree Realty

In other Agree Realty news, CEO Joey Agree acquired 2,100 shares of the company's stock in a transaction on Thursday, August 14th. The shares were purchased at an average cost of $72.08 per share, with a total value of $151,368.00. Following the completion of the purchase, the chief executive officer owned 635,160 shares of the company's stock, valued at approximately $45,782,332.80. This represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg Lehmkuhl acquired 750 shares of the company's stock in a transaction on Friday, September 5th. The stock was acquired 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 approximately $2,016,502.56. This represents a 2.78% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 7,700 shares of company stock valued at $555,926. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

ADC has been the subject of a number of research analyst reports. Morgan Stanley cut shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price objective for the company. in a research report on Friday, July 11th. UBS Group upped their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Barclays decreased their price target on shares of Agree Realty from $78.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 20th. JMP Securities restated a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Finally, Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $80.42.

Agree Realty Company 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.