Graham Capital Management L.P. Acquires 33,595 Shares of Agree Realty Corporation $ADC

Key Points

• Graham Capital Management increased its stake in Agree Realty by 161.9% in the fourth quarter, buying an additional 33,595 shares and bringing its total holding to 54,346 shares worth about $3.9 million.
• Agree Realty’s latest quarterly results beat expectations, with EPS of $0.50 versus the $0.47 consensus and revenue of $211.49 million, up 18.7% from a year earlier.
• Analysts remain generally positive on the stock, with an average rating of “Moderate Buy” and a consensus price target of $83.80, while the company also announced a quarterly dividend of $0.267 per share.

Graham Capital Management L.P. boosted its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 161.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,346 shares of the real estate investment trust's stock after purchasing an additional 33,595 shares during the quarter. Graham Capital Management L.P.'s holdings in Agree Realty were worth $3,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Evergreen Capital Management LLC raised its stake in Agree Realty by 2.7% during the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust's stock valued at $430,000 after purchasing an additional 154 shares during the period. IFP Advisors Inc raised its stake in Agree Realty by 18.2% during the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 171 shares during the period. Fifth Third Bancorp raised its stake in Agree Realty by 2.7% during the 4th quarter. Fifth Third Bancorp now owns 6,778 shares of the real estate investment trust's stock valued at $488,000 after purchasing an additional 176 shares during the period. Creative Financial Designs Inc. ADV raised its stake in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 192 shares during the period. Finally, Danske Bank A S raised its stake in Agree Realty by 22.2% during the 4th quarter. Danske Bank A S now owns 1,100 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 200 shares during the period. Institutional investors own 97.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADC. Mizuho reduced their price objective on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Royal Bank Of Canada lifted their price objective on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Robert W. Baird lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Morgan Stanley set a $81.00 price objective on Agree Realty in a research note on Tuesday, April 21st. Finally, Barclays reduced their price objective on Agree Realty from $86.00 to $84.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.80.

Agree Realty Stock Performance

NYSE:ADC opened at $74.68 on Wednesday. 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 Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The stock's 50 day simple moving average is $75.87 and its two-hundred day simple moving average is $75.27. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 2.50 and a beta of 0.48.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the previous year, the company posted $0.42 EPS. The company's 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. As a group, equities analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

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

Insider Transactions at Agree Realty

In related news, Director Greg Lehmkuhl bought 750 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the acquisition, the director owned 34,465 shares in the company, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard Agree bought 5,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $71.41 per share, with a total value of $357,050.00. Following the acquisition, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 19,191 shares of company stock worth $1,426,994. 1.80% of the stock is currently owned by company insiders.

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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