First National Bank of Omaha purchased a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,130 shares of the real estate investment trust's stock, valued at approximately $1,373,000.
Several other institutional investors and hedge funds have also modified their holdings of ADC. BlackRock Inc. bought a new position in Agree Realty in the second quarter valued at about $1,447,551,000. Vanguard Group Inc. increased its position in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust's stock worth $1,133,114,000 after purchasing an additional 84,568 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Agree Realty by 4.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust's stock valued at $1,015,324,000 after purchasing an additional 649,301 shares during the last quarter. State Street Corp increased its holdings in Agree Realty by 1.6% in the 4th quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust's stock worth $425,350,000 after purchasing an additional 91,766 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Agree Realty by 5.4% during the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust's stock valued at $341,180,000 after purchasing an additional 232,532 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.
Agree Realty Trading Up 0.3%
ADC opened at $74.46 on Thursday. The company has a fifty day moving average price of $76.83 and a two-hundred day moving average price of $76.76. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The company has a market cap of $9.26 billion, a P/E ratio of 40.03, a price-to-earnings-growth ratio of 2.43 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60.
Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same period last year, the company earned $1.06 EPS. Agree Realty's revenue for the quarter was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Analysts predict that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.
Agree Realty Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 4.3%. Agree Realty's payout ratio is currently 172.04%.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Royal Bank Of Canada lifted their target price on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Citigroup lifted their price objective on Agree Realty from $77.00 to $82.50 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings lowered shares of Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a research note on Friday, July 31st. One investment 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 company. According to data from MarketBeat, Agree Realty has a consensus rating of "Moderate Buy" and a consensus target price of $83.94.
View Our Latest Research Report on Agree Realty
Insider Buying and Selling at Agree Realty
In other news, Chairman Richard Agree bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the acquisition, the chairman directly owned 90,512 shares in the company, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.
About Agree Realty
(
Free Report)
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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