Dimensional Fund Advisors LP Purchases 31,030 Shares of Agree Realty Corporation $ADC

Key Points

• Dimensional Fund Advisors LP increased its holdings in Agree Realty Corporation by 2.0%, acquiring an additional 31,030 shares, bringing its total ownership to 1,581,170 shares valued at approximately $122 million.
• CEO Joey Agree recently purchased 2,100 shares of the company at a price of $72.08 per share, increasing his total ownership to 635,160 shares, valued at nearly $45.8 million.
• Agree Realty announced a monthly dividend of $0.256 per share, with a yield of 4.2%, payable on September 15th for investors on record by August 29th.

Dimensional Fund Advisors LP lifted its stake in Agree Realty Corporation (NYSE:ADC - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,581,170 shares of the real estate investment trust's stock after acquiring an additional 31,030 shares during the period. Dimensional Fund Advisors LP owned approximately 1.44% of Agree Realty worth $122,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADC. Millennium Management LLC lifted its holdings in shares of Agree Realty by 1,036.9% during the 4th quarter. Millennium Management LLC now owns 1,171,297 shares of the real estate investment trust's stock worth $82,518,000 after acquiring an additional 1,068,271 shares during the period. Nuveen LLC acquired a new stake in shares of Agree Realty during the 1st quarter valued at about $64,759,000. Northern Trust Corp boosted its position in shares of Agree Realty by 89.2% during the 4th quarter. Northern Trust Corp now owns 1,523,280 shares of the real estate investment trust's stock valued at $107,315,000 after acquiring an additional 718,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Agree Realty by 524.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 707,421 shares of the real estate investment trust's stock valued at $49,838,000 after acquiring an additional 594,080 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in shares of Agree Realty by 122.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,070,951 shares of the real estate investment trust's stock valued at $75,448,000 after acquiring an additional 589,349 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Price Performance

Shares of Agree Realty stock traded down $0.9750 during trading on Friday, reaching $73.0650. The company's stock had a trading volume of 701,347 shares, compared to its average volume of 976,101. The stock has a 50-day moving average price of $73.11 and a two-hundred day moving average price of $74.28. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a one year low of $67.58 and a one year high of $79.65. The stock has a market capitalization of $8.09 billion, a P/E ratio of 43.49, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.The business had revenue of $175.53 million during the quarter, compared to analysts' expectations of $173.95 million. During the same period in the previous year, the business posted $1.04 earnings per share. The firm'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 anticipate that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.256 per share. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, August 29th. Agree Realty's payout ratio is presently 182.74%.

Insider Activity

In related news, CEO Joey Agree bought 4,108 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $72.15 per share, for a total transaction of $296,392.20. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 6,950 shares of company stock worth $501,296. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADC has been the topic of several recent research reports. Mizuho decreased their target price on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. BTIG Research lowered Agree Realty from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 7th. Truist Financial set a $84.00 price objective on Agree Realty in a report on Friday, August 8th. UBS Group lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Barclays cut their price objective on Agree Realty from $78.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.50.

About Agree Realty

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.