GC Wealth Management RIA LLC Takes $322,000 Position in Agree Realty Corporation $ADC

Key Points

• GC Wealth Management RIA LLC has acquired a new stake in Agree Realty Corporation, purchasing 4,410 shares for approximately $322,000 during the 2nd quarter.
• CEO Joey Agree recently bought 4,108 shares of the company's stock, increasing his ownership and reflecting growing confidence in the company's performance.
• Agree Realty's stock is currently valued at around $71.80 per share, with analysts maintaining a "Moderate Buy" rating and an average target price of $80.58.

GC Wealth Management RIA LLC purchased a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,410 shares of the real estate investment trust's stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Agree Realty by 2.5% in the first quarter. Vanguard Group Inc. now owns 14,913,633 shares of the real estate investment trust's stock valued at $1,151,183,000 after purchasing an additional 363,681 shares during the last quarter. Centersquare Investment Management LLC grew its position in shares of Agree Realty by 10.7% in the first quarter. Centersquare Investment Management LLC now owns 2,431,960 shares of the real estate investment trust's stock valued at $187,723,000 after purchasing an additional 234,641 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Agree Realty by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,338,219 shares of the real estate investment trust's stock valued at $180,487,000 after purchasing an additional 353,884 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Agree Realty by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,695,297 shares of the real estate investment trust's stock valued at $130,860,000 after purchasing an additional 49,645 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Agree Realty by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,581,170 shares of the real estate investment trust's stock valued at $122,049,000 after purchasing an additional 31,030 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Agree Realty

In other Agree Realty news, CEO Joey Agree purchased 4,108 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $72.15 per share, for a total transaction of $296,392.20. Following the completion of the purchase, the chief executive officer directly owned 633,060 shares in the company, valued at approximately $45,675,279. This trade represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Lehmkuhl bought 750 shares of the business's stock in a transaction dated Friday, September 5th. The stock was purchased at an average price of $72.84 per share, with a total value of $54,630.00. Following the purchase, the director directly owned 27,684 shares of the company's stock, valued at $2,016,502.56. The trade was a 2.78% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,700 shares of company stock valued at $555,926. Corporate insiders own 1.80% of the company's stock.

Agree Realty Stock Up 1.1%

Shares of ADC opened at $71.80 on Thursday. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 42.74, a P/E/G ratio of 2.37 and a beta of 0.55. 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 Corporation has a 12 month low of $67.58 and a 12 month high of $79.65. The company has a 50-day moving average price of $72.54 and a two-hundred day moving average price of $73.97.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.01. The firm had revenue of $175.53 million during the quarter, compared to analysts' expectations of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Equities analysts predict that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.256 per share. The ex-dividend date is Tuesday, September 30th. This represents a yield of 432.0%. Agree Realty's dividend payout ratio (DPR) is currently 182.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ADC shares. Barclays lowered their price target on Agree Realty from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 20th. Truist Financial set a $84.00 target price on shares of Agree Realty in a research note on Friday, August 8th. JMP Securities reiterated a "market perform" rating on shares of Agree Realty in a research note on Monday, June 30th. Morgan Stanley cut shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 target price for the company. in a research note on Friday, July 11th. Finally, Evercore ISI increased their target price on shares of Agree Realty from $83.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Agree Realty has an average rating of "Moderate Buy" and an average target price of $80.58.

Agree Realty 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.

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