Landscape Capital Management L.L.C. Acquires New Position in Agree Realty Corporation $ADC

Key Points

• Landscape Capital Management acquired 15,270 shares of Agree Realty, worth approximately $1.16 million, while other institutional investors also increased their holdings. Institutions and hedge funds now own 97.83% of the stock.
• Agree Realty insiders showed confidence as Chairman Richard Agree purchased 5,000 shares for about $357,000. Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $83.94.
• The stock opened at $73.95, below the consensus target, while the REIT reported quarterly revenue growth of 16.8% but missed earnings estimates. Agree Realty also declared a monthly dividend of $0.267 per share, representing a stated 4.3% yield.

Landscape Capital Management L.L.C. acquired a new stake in Agree Realty Corporation (NYSE:ADC - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,270 shares of the real estate investment trust's stock, valued at approximately $1,157,000.

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

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Chairman Richard Agree purchased 5,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $71.41 per share, with a total value of $357,050.00. Following the purchase, the chairman directly owned 90,512 shares of the company's stock, valued at $6,463,461.92. The trade was a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADC shares. Robert W. Baird set a $83.00 target price on Agree Realty in a research note on Friday, July 31st. 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. Huntington initiated coverage on Agree Realty in a report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 price objective on the stock. Weiss Ratings lowered Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.94.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $73.95 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 2.42 and a beta of 0.47. The stock's 50-day moving average is $76.78 and its 200-day moving average is $76.80. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same quarter in the previous year, the business posted $1.06 earnings per share. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts predict that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

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

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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