IFM Investors Pty Ltd Has $1.59 Million Stake in Agree Realty Corporation $ADC

Key Points

• IFM Investors Pty Ltd reduced its stake in Agree Realty Corporation by 17.0% during the first quarter, now holding 20,569 shares valued at approximately $1.59 million.
• Agree Realty's recent earnings report showed a EPS of $1.06, beating estimates, with a revenue increase of 15.0% compared to last year.
• The company announced a dividend of $0.256 per share, set to be paid on October 14th, while maintaining a dividend payout ratio of 182.74%.

IFM Investors Pty Ltd decreased its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,569 shares of the real estate investment trust's stock after selling 4,218 shares during the quarter. IFM Investors Pty Ltd's holdings in Agree Realty were worth $1,588,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Agree Realty during the first quarter worth $27,000. SVB Wealth LLC acquired a new stake in shares of Agree Realty during the first quarter worth $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Agree Realty during the fourth quarter worth $31,000. Capital Advisors Ltd. LLC raised its position in Agree Realty by 137.8% during the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 270 shares during the period. Finally, NBC Securities Inc. acquired a new position in Agree Realty during the first quarter valued at $39,000. Institutional investors and hedge funds own 97.83% of the company's stock.

Agree Realty Stock Performance

Shares of ADC stock traded down $0.17 during mid-day trading on Thursday, reaching $71.81. The stock had a trading volume of 142,137 shares, compared to its average volume of 1,156,354. The firm's 50 day simple moving average is $72.75 and its 200 day simple moving average is $74.28. 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 one year low of $67.58 and a one year high of $79.65. The firm has a market cap of $7.95 billion, a PE ratio of 42.75, a P/E/G ratio of 2.41 and a beta of 0.56.

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

Agree Realty Dividend Announcement

The business also recently announced a sep 25 dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a $0.256 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 430.0%. Agree Realty's dividend payout ratio is presently 182.74%.

Analyst Ratings Changes

Several research firms recently weighed in on ADC. Barclays dropped 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. Evercore ISI upped their price target on Agree Realty from $83.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday. Mizuho dropped their price target on Agree Realty from $78.00 to $77.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Finally, UBS Group upped their target price on Agree Realty from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Agree Realty has a consensus rating of "Moderate Buy" and an average price target of $80.58.

Insiders Place Their Bets

In other Agree Realty news, Director Greg Lehmkuhl purchased 750 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $72.84 per share, with a total value of $54,630.00. Following the acquisition, the director directly owned 27,684 shares of the company's stock, valued at approximately $2,016,502.56. This trade represents a 2.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joey Agree purchased 2,100 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $72.08 per share, with a total value of $151,368.00. Following the completion of the acquisition, the chief executive officer directly owned 635,160 shares in the company, valued at approximately $45,782,332.80. This represents a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,700 shares of company stock valued at $555,926 over the last ninety days. Insiders own 1.80% of the company's stock.

About Agree Realty

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.