GSA Capital Partners LLP Purchases Shares of 93,165 Agree Realty Corporation $ADC

Key Points

• GSA Capital Partners LLP purchased 93,165 shares of Agree Realty, valued at approximately $7.1 million, making ADC its fourth-largest holding and representing about 0.07% of the REIT.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $83.94, compared with the stock’s opening price of $74.69.
• Agree Realty reported quarterly revenue growth of 16.8% year over year but missed EPS estimates; it also declared a monthly dividend of $0.267 per share, implying a 4.3% annualized yield.

GSA Capital Partners LLP purchased a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 93,165 shares of the real estate investment trust's stock, valued at approximately $7,056,000. Agree Realty accounts for about 0.4% of GSA Capital Partners LLP's investment portfolio, making the stock its 4th biggest holding. GSA Capital Partners LLP owned approximately 0.07% of Agree Realty as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Clearstead Trust LLC lifted its position in Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 242 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in Agree Realty during the third quarter valued at about $32,000. Creative Financial Designs Inc. ADV grew its position 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 valued at $33,000 after purchasing an additional 192 shares during the last quarter. Clearstead Advisors LLC grew its position 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 valued at $33,000 after purchasing an additional 285 shares during the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in shares of Agree Realty by 214.4% in the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 373 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ADC shares. Morgan Stanley set a $81.00 price objective on Agree Realty in a research report on Tuesday, April 21st. Huntington began coverage on Agree Realty in a report on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 target price on the stock. Royal Bank Of Canada lifted their price target on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Jefferies Financial Group started coverage on Agree Realty in a report on Monday, June 1st. They set a "buy" rating and a $84.00 price target for the company. Finally, Barclays increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.94.

Agree Realty Stock Down 0.6%

NYSE ADC opened at $74.69 on Friday. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The stock has a market cap of $9.29 billion, a PE ratio of 40.16, a PEG ratio of 2.44 and a beta of 0.47. The firm has a 50-day simple moving average of $76.83 and a 200 day simple moving average of $76.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). The firm had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The company's revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Agree Realty's payout ratio is currently 172.04%.

Insider Activity

In other news, Chairman Richard Agree acquired 5,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company's stock.

About Agree Realty

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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