Hsbc Holdings PLC Grows Position in Agree Realty Corporation $ADC

Key Points

• HSBC Holdings PLC increased its stake in Agree Realty by 25.5% in the fourth quarter, buying 60,159 more shares and bringing its holdings to 295,693 shares worth about $21.3 million.
• Agree Realty reported solid quarterly results, with earnings per share of $0.50 topping estimates of $0.47 and revenue rising 18.7% year over year to $211.49 million.
• The REIT remains active on dividends and insider buying: it declared a quarterly dividend of $0.267 per share, while Chairman Richard Agree and CEO Joey Agree both recently purchased additional shares.

Hsbc Holdings PLC boosted its stake in Agree Realty Corporation (NYSE:ADC - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295,693 shares of the real estate investment trust's stock after buying an additional 60,159 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of Agree Realty worth $21,299,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jane Street Group LLC boosted its position in shares of Agree Realty by 268.9% during the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust's stock worth $2,112,000 after purchasing an additional 19,948 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 356 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Agree Realty in the 2nd quarter valued at about $1,875,000. EverSource Wealth Advisors LLC increased its stake in Agree Realty by 245.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust's stock worth $99,000 after purchasing an additional 965 shares during the period. Finally, First Trust Advisors LP increased its stake in Agree Realty by 46.8% during the second quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust's stock worth $5,421,000 after purchasing an additional 23,662 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Performance

Shares of ADC opened at $78.39 on Wednesday. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 42.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.47. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $75.28 and a 200 day moving average price of $75.55.

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 for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company had revenue of $211.49 million for the quarter, compared to analysts' expectations of $195.73 million. During the same quarter last year, the company earned $0.42 earnings per share. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.267 per share. 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%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, March 23rd. Jefferies Financial Group initiated coverage on shares of Agree Realty in a report on Monday, June 1st. They set a "buy" rating and a $84.00 target price on the stock. Mizuho dropped their price target on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. Royal Bank Of Canada upped their price objective on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Citigroup increased their price objective on Agree Realty from $77.00 to $82.50 and gave the company a "neutral" rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $83.80.

Insider Activity

In other news, Chairman Richard Agree purchased 5,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were bought at an average price 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 approximately $6,463,461.92. This represents a 5.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joey Agree acquired 13,295 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares of the company's stock, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 19,045 shares of company stock valued at $1,415,943. Insiders own 1.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.