Agree Realty Corporation $ADC Stock Holdings Boosted by FJ Capital Management LLC

Key Points

• FJ Capital Management LLC has significantly increased its ownership in Agree Realty Corporation, acquiring an additional 8,406 shares, bringing its total holdings to 11,514 shares valued at approximately $889,000.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Agree Realty, with a target price averaging $80.50, indicating positive short-term expectations for the stock.
• Agree Realty recently announced a monthly dividend of $0.256 per share, which will be distributed on September 15th, reflecting an annual yield of 4.2%.

FJ Capital Management LLC increased its holdings in Agree Realty Corporation (NYSE:ADC - Free Report) by 270.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,514 shares of the real estate investment trust's stock after acquiring an additional 8,406 shares during the quarter. FJ Capital Management LLC's holdings in Agree Realty were worth $889,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ADC. Millennium Management LLC lifted its stake in shares of Agree Realty by 1,036.9% in the fourth 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 in the last quarter. Nuveen LLC acquired a new position in shares of Agree Realty in the first quarter worth about $64,759,000. Northern Trust Corp lifted its stake in shares of Agree Realty by 89.2% in the fourth quarter. Northern Trust Corp now owns 1,523,280 shares of the real estate investment trust's stock worth $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 raised its stake in Agree Realty by 524.2% during the fourth 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 buying an additional 594,080 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Agree Realty during the first quarter valued at approximately $41,114,000. Institutional investors and hedge funds own 97.83% of the company's stock.

Insider Transactions at Agree Realty

In other Agree Realty news, CEO Joey Agree acquired 4,108 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $72.15 per share, with a total value of $296,392.20. Following the acquisition, the chief executive officer directly owned 633,060 shares of the company's stock, valued at $45,675,279. This represents a 0.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders purchased 6,950 shares of company stock valued at $501,296. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

ADC has been the topic of several research reports. Truist Financial set a $84.00 price objective on Agree Realty in a research note on Friday, August 8th. Barclays cut their price objective on Agree Realty from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 20th. Mizuho cut their price objective on Agree Realty from $81.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Finally, JMP Securities restated a "market perform" rating on shares of Agree Realty in a research note on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Agree Realty currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.50.

Agree Realty Stock Performance

Shares of NYSE:ADC traded up $0.99 during trading on Friday, hitting $72.99. 828,151 shares of the company traded hands, compared to its average volume of 875,473. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 2.41 and a beta of 0.56. The business's fifty day moving average is $72.74 and its 200-day moving average is $74.29. Agree Realty Corporation has a one year low of $67.58 and a one year high of $79.65. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59.

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

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.256 dividend. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 29th. Agree Realty's dividend payout ratio is 182.74%.

Agree Realty Company Profile

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.