Great Lakes Advisors LLC bought a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 53,292 shares of the real estate investment trust's stock, valued at approximately $4,036,000.
A number of other large investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in shares of Agree Realty by 5.0% in the first quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 145 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Agree Realty by 2.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust's stock worth $430,000 after purchasing an additional 154 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in Agree Realty by 1.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust's stock valued at $1,070,000 after purchasing an additional 154 shares in the last quarter. IFM Investors Pty Ltd grew its position in Agree Realty by 0.9% in the first quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust's stock valued at $1,402,000 after purchasing an additional 171 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Agree Realty by 2.7% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.
Agree Realty Trading Up 0.1%
Shares of NYSE:ADC opened at $74.45 on Friday. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization 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 50-day simple moving average of $76.82 and a 200 day simple moving average of $76.78.
Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly 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 analyst estimates of $204.53 million. During the same period last year, the firm earned $1.06 EPS. Agree Realty's quarterly 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. Sell-side analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current year.
Agree Realty Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.267 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a yield of 4.3%. Agree Realty's dividend payout ratio (DPR) is currently 172.04%.
Analysts Set New Price Targets
Several equities research analysts have commented on ADC shares. Jefferies Financial Group assumed coverage on shares of Agree Realty in a research report on Monday, June 1st. They set a "buy" rating and a $84.00 price target on the stock. Weiss Ratings downgraded Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Huntington initiated coverage on Agree Realty in a report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 target price on the stock. Barclays increased their price target on Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Finally, Mizuho decreased their price target on Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.94.
View Our Latest Stock Analysis on Agree Realty
Insider Transactions at Agree Realty
In related news, Chairman Richard Agree acquired 5,000 shares of Agree Realty stock in a transaction on Thursday, June 4th. The stock was purchased at an average cost of $71.41 per share, with a total value of $357,050.00. Following the completion of the transaction, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.
Agree Realty Profile
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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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