Lmcg Investments LLC Purchases 20,220 Shares of Agree Realty Corporation $ADC

Key Points

• Lmcg Investments LLC increased its stake in Agree Realty by 15.8% in Q1, buying 20,220 additional shares and bringing its total holding to 148,569 shares valued at about $11.2 million.
• Insider buying has been active, with CEO Joey Agree purchasing 13,295 shares and Director Greg Lehmkuhl buying 750 shares on May 14; insiders collectively bought 19,045 shares in the last quarter.
• Agree Realty posted solid results and shareholder returns, reporting Q1 EPS of $0.50 versus estimates of $0.47, raising revenue 18.7% year over year, and declaring a quarterly dividend of $0.267 per share.

Lmcg Investments LLC lifted its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 15.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,569 shares of the real estate investment trust's stock after buying an additional 20,220 shares during the quarter. Lmcg Investments LLC owned about 0.12% of Agree Realty worth $11,199,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Clearstead Trust LLC grew its stake in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 242 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in Agree Realty in the 3rd quarter worth about $32,000. Creative Financial Designs Inc. ADV boosted its holdings in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 192 shares during the period. Clearstead Advisors LLC boosted its holdings in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 285 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Agree Realty by 178.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 97.83% of the company's stock.

Insider Activity

In other Agree Realty news, CEO Joey Agree purchased 13,295 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the acquisition, the chief executive officer 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg Lehmkuhl acquired 750 shares of the company'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 completion of the transaction, the director 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 disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 19,045 shares of company stock worth $1,415,943. Insiders own 1.80% of the company's stock.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $77.95 on Thursday. The firm has a 50 day moving average of $75.32 and a 200-day moving average of $75.59. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $9.36 billion, a PE ratio of 42.14, a PEG ratio of 2.63 and a beta of 0.47.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million for the quarter, compared to analysts' expectations of $195.73 million. During the same period last year, the firm posted $0.42 earnings per share. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, June 30th. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. Agree Realty's dividend payout ratio (DPR) is presently 172.97%.

Analysts Set New Price Targets

Several brokerages have recently commented on ADC. Truist Financial raised their target price on shares of Agree Realty from $79.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Morgan Stanley set a $81.00 price target on Agree Realty in a research report on Tuesday, April 21st. Weiss Ratings restated a "buy (b-)" rating on shares of Agree Realty in a research note on Thursday, July 2nd. Raymond James Financial lifted their price objective on Agree Realty from $84.00 to $90.00 and gave the company a "strong-buy" rating in a report on Tuesday, March 17th. Finally, Robert W. Baird upped their target price on Agree Realty from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.80.

About Agree Realty

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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