Landscape Capital Management L.L.C. Buys New Stake in Agree Realty Corporation $ADC

Key Points

• Landscape Capital Management opened a new position in Agree Realty, buying 23,737 shares worth about $1.71 million in the fourth quarter.
• Institutional interest in NYSE:ADC remains high, with hedge funds and other institutions owning 97.83% of the stock and several firms recently increasing their stakes.
• Agree Realty posted a strong quarter, with EPS of $0.50 and revenue of $211.49 million, both ahead of expectations, while analysts currently rate the stock a Moderate Buy with an average target of $83.80.

Landscape Capital Management L.L.C. bought a new stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 23,737 shares of the real estate investment trust's stock, valued at approximately $1,710,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ADC. Jane Street Group LLC lifted its holdings 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 valued at $2,112,000 after acquiring an additional 19,948 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Agree Realty by 158.9% during 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 acquiring an additional 356 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Agree Realty during the 2nd quarter valued at $1,875,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 valued at $99,000 after acquiring an additional 965 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Agree Realty by 46.8% during the 2nd quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust's stock valued at $5,421,000 after acquiring an additional 23,662 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Analysts Set New Price Targets

ADC has been the topic of several recent research reports. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a report on Tuesday, April 21st. Raymond James Financial boosted their price objective on shares of Agree Realty from $84.00 to $90.00 and gave the stock a "strong-buy" rating in a report on Tuesday, March 17th. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Mizuho cut their price objective on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Agree Realty presently has an average rating of "Moderate Buy" and an average price target of $83.80.

Agree Realty Stock Performance

Shares of ADC stock opened at $74.38 on Tuesday. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. 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 firm has a market capitalization of $8.93 billion, a P/E ratio of 40.20, a P/E/G ratio of 2.55 and a beta of 0.48. The company's fifty day moving average price is $75.91 and its two-hundred day moving average price is $75.27.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $211.49 million for 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 firm's revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, research analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.267 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, June 30th. Agree Realty's dividend payout ratio is 172.97%.

Insider Activity

In related news, CEO Joey Agree bought 13,295 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were acquired 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 owned 675,105 shares in the company, valued at $50,909,668.05. This trade represents a 2.01% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg Lehmkuhl bought 750 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the purchase, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 19,191 shares of company stock worth $1,426,994. 1.80% of the stock is currently owned by corporate insiders.

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.