Knights of Columbus Asset Advisors LLC Purchases Shares of 21,286 Agree Realty Corporation $ADC

Key Points

• Knights of Columbus Asset Advisors opened a new position in Agree Realty, buying 21,286 shares valued at about $1.53 million in the fourth quarter.
• Analysts remain broadly positive on ADC, with a consensus rating of Moderate Buy and an average price target of $83.79, even though some firms recently trimmed ratings or targets.
• Insiders have been buying shares as well: Director Greg Lehmkuhl and CEO Joey Agree both made notable purchases in May, while Agree Realty also reported earnings and revenue that beat expectations last quarter.

Knights of Columbus Asset Advisors LLC purchased a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,286 shares of the real estate investment trust's stock, valued at approximately $1,533,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Centersquare Investment Management LLC increased its position in Agree Realty by 1.8% during the third quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust's stock worth $205,748,000 after acquiring an additional 51,269 shares during the period. JPMorgan Chase & Co. raised its stake in Agree Realty by 65.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust's stock valued at $143,268,000 after purchasing an additional 799,185 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Agree Realty by 7.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 342,915 shares of the real estate investment trust's stock valued at $24,361,000 after purchasing an additional 25,236 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in Agree Realty in the 3rd quarter valued at $971,000. Finally, Vanguard Group Inc. grew its position in Agree Realty by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust's stock worth $1,133,114,000 after purchasing an additional 84,568 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on ADC shares. Robert W. Baird upped their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Truist Financial lifted their target price on Agree Realty from $79.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Raymond James Financial boosted their price target on Agree Realty from $84.00 to $90.00 and gave the company a "strong-buy" rating in a research note on Tuesday, March 17th. BMO Capital Markets downgraded Agree Realty from an "outperform" rating to a "market perform" rating and set a $86.00 price objective for the company. in a research report on Friday, April 17th. Finally, Mizuho decreased their price objective on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.79.

Insider Activity at Agree Realty

In related news, Director Greg Lehmkuhl purchased 750 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were acquired 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. This represents a 2.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joey Agree acquired 13,295 shares of the company's stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the purchase, the chief executive officer directly owned 675,105 shares of the company's stock, valued at approximately $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 14,191 shares of company stock valued at $1,069,944 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $74.50 on Friday. The firm has a market cap of $8.95 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50. The firm's 50-day simple moving average is $76.41 and its 200-day simple moving average is $75.28. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

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

Agree Realty Announces Dividend

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 given a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, May 29th. Agree Realty's dividend payout ratio (DPR) is 172.97%.

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.

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