Deutsche Bank AG Invests $104.75 Million in Agree Realty Corporation $ADC

Key Points

• Deutsche Bank initiated a major position in Agree Realty, purchasing 1.38 million shares worth approximately $104.75 million, or 1.11% of the REIT. Institutional investors and hedge funds now own 97.83% of the company.
• Analysts maintain a generally positive view, with Agree Realty carrying a consensus “Moderate Buy” rating and an average price target of $83.94, compared with shares opening at $74.46.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year, but earnings per share of $0.44 missed estimates. The company also declared a monthly $0.267 dividend, representing an annualized yield of about 4.3%.

Deutsche Bank AG bought a new position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,382,985 shares of the real estate investment trust's stock, valued at approximately $104,747,000. Deutsche Bank AG owned approximately 1.11% of Agree Realty as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC raised its position in Agree Realty by 192.1% in the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 242 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in Agree Realty in the 3rd quarter valued at approximately $32,000. Clearstead Advisors LLC lifted its stake in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 285 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 192 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in 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 acquiring an additional 373 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ADC shares. Jefferies Financial Group began coverage on shares of Agree Realty in a report on Monday, June 1st. They issued a "buy" rating and a $84.00 price objective on the stock. Royal Bank Of Canada increased their target price 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. Weiss Ratings cut shares of Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Mizuho decreased their target price on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Finally, Citigroup lifted their price target on shares of Agree Realty from $77.00 to $82.50 and gave the company a "neutral" rating in a research note on Friday, April 24th. One 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. According to MarketBeat.com, Agree Realty has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.

Agree Realty Stock Performance

Shares of NYSE ADC opened at $74.46 on Thursday. 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 company has a market capitalization of $9.26 billion, a P/E ratio of 40.03, a P/E/G ratio of 2.43 and a beta of 0.47. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The stock has a 50 day moving average of $76.83 and a 200-day moving average of $76.76.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. Agree Realty's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.267 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, August 31st. Agree Realty's payout ratio is presently 172.04%.

Insider Activity

In related news, Chairman Richard Agree acquired 5,000 shares of the company's stock in a transaction on Thursday, June 4th. The stock was purchased at an average cost of $71.41 per share, with a total value of $357,050.00. Following the acquisition, the chairman directly owned 90,512 shares of the company's stock, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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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