Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 102,730 Agree Realty Corporation $ADC

Key Points

• Mitsubishi UFJ Asset Management acquired 102,730 Agree Realty shares worth approximately $7.8 million, joining other institutional investors that collectively own 97.83% of the REIT.
• Agree Realty shares traded at $73.95, down 0.7%, after the company reported quarterly earnings of $0.44 per share—below estimates—despite revenue rising 16.8% year over year to $216.33 million.
• The company declared a monthly dividend of $0.267 per share, representing a 4.3% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.94.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 102,730 shares of the real estate investment trust's stock, valued at approximately $7,781,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of Agree Realty as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC lifted its position in Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock worth $27,000 after buying an additional 242 shares during the period. Wiser Advisor Group LLC acquired a new position in shares of Agree Realty during the 3rd quarter valued at about $32,000. Creative Financial Designs Inc. ADV increased its stake in shares of Agree Realty by 71.1% during 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 acquiring an additional 192 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 285 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its position in shares of Agree Realty by 214.4% in the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 373 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Agree Realty Trading Down 0.7%

NYSE ADC opened at $73.95 on Friday. The firm has a market capitalization of $9.20 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 2.43 and a beta of 0.47. The company has a 50-day simple moving average of $76.78 and a 200-day simple moving average of $76.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. 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 issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $216.33 million during the quarter, compared to analyst estimates of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.Agree Realty's quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, equities analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

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

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Chairman Richard Agree purchased 5,000 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were bought at an average price of $71.41 per share, with a total value of $357,050.00. Following the completion of the acquisition, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. This represents a 5.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Robert W. Baird set a $83.00 price target on shares of Agree Realty in a research note on Friday, July 31st. Jefferies Financial Group assumed coverage on Agree Realty in a research report on Monday, June 1st. They issued a "buy" rating and a $84.00 target price on the stock. Mizuho lowered their price target on Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Huntington began coverage on Agree Realty in a report on Wednesday, July 15th. They set an "outperform" rating and a $84.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty has a consensus rating of "Moderate Buy" and a consensus target price of $83.94.

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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