Jefferies Financial Group Inc. Makes New Investment in Agree Realty Corporation $ADC

Key Points

• Jefferies Financial Group opened a new position in Agree Realty during the fourth quarter, buying 21,454 shares worth about $1.55 million.
• Several insiders also bought stock: CEO Joey Agree purchased 13,295 shares for about $1.0 million, and Director Greg Lehmkuhl bought 750 shares, signaling insider confidence.
• Agree Realty reported stronger-than-expected quarterly results, with $0.50 EPS and revenue of $211.49 million, while also announcing a quarterly dividend of $0.267 per share.

Jefferies Financial Group Inc. bought a new position in Agree Realty Corporation (NYSE:ADC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 21,454 shares of the real estate investment trust's stock, valued at approximately $1,545,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Evergreen Capital Management LLC grew its stake in Agree Realty by 2.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust's stock worth $430,000 after acquiring an additional 154 shares in the last quarter. AE Wealth Management LLC grew its stake in Agree Realty by 3.5% in the 3rd quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust's stock worth $331,000 after acquiring an additional 156 shares in the last quarter. IFP Advisors Inc grew its stake in Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 171 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Agree Realty by 5.8% in the 3rd quarter. HighPoint Advisor Group LLC now owns 3,162 shares of the real estate investment trust's stock worth $225,000 after buying an additional 174 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Agree Realty by 2.7% in the 4th quarter. Fifth Third Bancorp now owns 6,778 shares of the real estate investment trust's stock worth $488,000 after buying an additional 176 shares during the period. 97.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Joey Agree bought 13,295 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the purchase, the chief executive officer directly owned 675,105 shares of the company's stock, valued at approximately $50,909,668.05. The trade was a 2.01% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg Lehmkuhl bought 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, with a total value of $56,317.50. Following the purchase, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 14,191 shares of company stock valued at $1,069,944 over the last quarter. 1.80% of the stock is owned by company insiders.

Agree Realty Stock Down 0.8%

Shares of ADC stock opened at $74.92 on Thursday. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The stock's fifty day moving average price is $76.52 and its 200 day moving average price is $75.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 2.54 and a beta of 0.50.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $211.49 million during the quarter, compared to analysts' expectations of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, research analysts expect that Agree Realty Corporation will post 4.44 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a $0.267 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.07 dividend on an annualized basis and a yield of 1.4%. Agree Realty's dividend payout ratio (DPR) is 172.97%.

Wall Street Analysts Forecast Growth

ADC has been the topic of a number of recent research reports. Mizuho dropped their price target on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Barclays dropped their price target on Agree Realty from $86.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 19th. Wall Street Zen downgraded Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Stifel Nicolaus increased their price target on Agree Realty from $83.50 to $84.50 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada upped their price target on shares of Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $83.79.

Agree Realty 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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