Entropy Technologies LP Purchases New Holdings in Agree Realty Corporation $ADC

Key Points

• Entropy Technologies LP opened a new position in Agree Realty, buying 29,663 shares valued at about $2.14 million in the fourth quarter.
• Insider buying was notable: Director Greg Lehmkuhl and CEO Joey Agree both purchased shares on May 14, and insiders bought 19,191 shares total over the last 90 days.
• Agree Realty reported solid quarterly results, with EPS of $0.50 topping estimates and revenue rising 18.7% year over year; the company also declared a quarterly dividend of $0.267 per share.

Entropy Technologies LP acquired a new position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 29,663 shares of the real estate investment trust's stock, valued at approximately $2,137,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC raised its stake 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 purchasing an additional 242 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in shares of Agree Realty during the third quarter worth $32,000. Clearstead Advisors LLC raised its position 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 valued at $33,000 after buying an additional 285 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position 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 valued at $33,000 after buying an additional 192 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Agree Realty by 178.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock worth $39,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Insider Buying and Selling

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $75.09 per share, with a total value of $56,317.50. Following the purchase, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joey Agree purchased 13,295 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the purchase, the chief executive officer owned 675,105 shares of the company's stock, valued at approximately $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 19,191 shares of company stock valued at $1,426,994 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

Agree Realty Stock Down 1.9%

Agree Realty stock opened at $74.38 on Tuesday. The stock's fifty day moving average is $75.91 and its two-hundred day moving average is $75.27. The stock has a market cap of $8.93 billion, a PE ratio of 40.20, a P/E/G ratio of 2.55 and a beta of 0.48. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same period in the prior year, the company posted $0.42 earnings per share. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, sell-side analysts expect that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.267 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, June 30th. Agree Realty's payout ratio is 172.97%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Agree Realty in a research report on Monday, June 1st. They set a "buy" rating and a $84.00 price target on the stock. Weiss Ratings upgraded Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. Robert W. Baird upped their price target on Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Raymond James Financial increased their price target on Agree Realty from $84.00 to $90.00 and gave the company a "strong-buy" rating in a report on Tuesday, March 17th. Finally, BMO Capital Markets lowered Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price objective on the stock. in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.80.

About Agree Realty

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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