First Trust Advisors LP Acquires 25,189 Shares of Agree Realty Corporation $ADC

Key Points

• First Trust Advisors LP more than doubled its Agree Realty stake in the first quarter, adding 25,189 shares to hold 49,635 shares worth approximately $3.74 million. Institutional investors collectively own 97.83% of ADC.
• Agree Realty insiders have also been buying, including Chairman Richard Agree’s 5,000-share purchase and CEO Joey Agree’s 13,295-share purchase. Insiders acquired 19,045 shares worth about $1.42 million over the past 90 days.
• ADC shares opened at $76.12, while analysts maintain a “Moderate Buy” consensus and an average price target of $83.94. The REIT reported revenue growth of 16.8% year over year but missed quarterly earnings estimates, and declared a monthly dividend of $0.267 per share.

First Trust Advisors LP lifted its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 103.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,635 shares of the real estate investment trust's stock after buying an additional 25,189 shares during the period. First Trust Advisors LP's holdings in Agree Realty were worth $3,741,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Clearstead Trust LLC grew its position in Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 242 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Agree Realty during the third quarter worth about $32,000. Creative Financial Designs Inc. ADV lifted its holdings 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 worth $33,000 after acquiring an additional 192 shares during the last quarter. Clearstead Advisors LLC lifted its holdings 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 worth $33,000 after acquiring an additional 285 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Agree Realty by 178.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 350 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Richard Agree bought 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average cost of $71.41 per share, with a total value of $357,050.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joey Agree bought 13,295 shares of the business's stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares in the company, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 19,045 shares of company stock valued at $1,415,943 over the last 90 days. 1.80% of the stock is owned by insiders.

Agree Realty Stock Down 0.3%

Shares of NYSE ADC opened at $76.12 on Thursday. The company has a 50 day simple moving average of $76.59 and a 200 day simple moving average of $76.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The firm has a market cap of $9.47 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 2.50 and a beta of 0.47.

Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share 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 business had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The company's revenue 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. On average, research analysts forecast 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 Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.267 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, July 31st. Agree Realty's payout ratio is 172.04%.

Analysts Set New Price Targets

ADC has been the topic of several research reports. Barclays lifted their price target on shares of Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Mizuho dropped their price objective on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. Jefferies Financial Group initiated coverage on shares of Agree Realty in a research report on Monday, June 1st. They issued a "buy" rating and a $84.00 target price on the stock. Huntington assumed coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They set an "outperform" rating and a $84.00 target price on the stock. Finally, Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $83.94.

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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