Lasalle Investment Management Securities LLC Increases Stock Holdings in Agree Realty Corporation $ADC

Key Points

• Lasalle Investment Management increased its stake in Agree Realty by 6.2% in the fourth quarter, bringing its holding to 674,524 shares worth about $48.6 million.
• Agree Realty posted stronger-than-expected quarterly results, with EPS of $0.50 versus $0.47 expected and revenue of $211.49 million, up 18.7% from a year ago.
• Insider buying and analyst sentiment were both positive: CEO Joey Agree and Director Greg Lehmkuhl bought shares, while Wall Street consensus remains a “Moderate Buy” with an average price target of $83.79.

Lasalle Investment Management Securities LLC lifted its stake in Agree Realty Corporation (NYSE:ADC - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 674,524 shares of the real estate investment trust's stock after purchasing an additional 39,119 shares during the quarter. Agree Realty comprises 1.9% of Lasalle Investment Management Securities LLC's portfolio, making the stock its 21st biggest holding. Lasalle Investment Management Securities LLC owned about 0.59% of Agree Realty worth $48,586,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADC. Jane Street Group LLC boosted its holdings 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 worth $2,112,000 after purchasing an additional 19,948 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 worth $42,000 after purchasing an additional 356 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Agree Realty in the 2nd quarter worth approximately $1,875,000. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $99,000 after acquiring an additional 965 shares during the period. Finally, First Trust Advisors LP boosted its holdings in 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 during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ADC shares. Weiss Ratings upgraded Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. Stifel Nicolaus boosted their price objective on Agree Realty from $83.50 to $84.50 and gave the company a "buy" rating in a report on Wednesday, February 11th. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Royal Bank Of Canada boosted their price objective on Agree Realty from $81.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Finally, Mizuho dropped their price objective on Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. One investment 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.79.

Agree Realty Trading Up 0.1%

Shares of NYSE ADC opened at $74.21 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $76.31 and a two-hundred day simple moving average of $75.28. The firm has a market cap of $8.91 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 2.49 and a beta of 0.48. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 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 return on equity of 3.95% and a net margin of 29.25%.The business's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. 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 declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a $0.267 dividend. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty's payout ratio is presently 172.97%.

Insider Buying and Selling at Agree Realty

In related news, Director Greg Lehmkuhl purchased 750 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $75.09 per share, with a total value of $56,317.50. Following the transaction, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joey Agree purchased 13,295 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the transaction, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This represents a 2.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 14,191 shares of company stock valued at $1,069,944. Corporate insiders own 1.80% of the company's stock.

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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