Northwestern Mutual Wealth Management Co. Has $6.93 Million Stock Holdings in Agree Realty Corporation $ADC

Key Points

• Northwestern Mutual Wealth Management sharply increased its stake in Agree Realty, buying enough shares in Q4 to raise its holdings by 6,172.3% to 100,607 shares worth about $6.93 million.
• Several other institutions also added to or initiated positions, and hedge funds and institutional investors now own 97.83% of Agree Realty’s stock.
• Analysts remain mostly positive overall, with a Moderate Buy consensus and an average price target of $83.79, while the company also reported stronger-than-expected quarterly earnings and declared a quarterly dividend of $0.267 per share.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 6,172.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 100,607 shares of the real estate investment trust's stock after acquiring an additional 99,003 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.09% of Agree Realty worth $6,926,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ADC. Jane Street Group LLC grew its holdings in 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 worth $2,112,000 after acquiring an additional 19,948 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Agree Realty during the 2nd quarter worth $1,875,000. EverSource Wealth Advisors LLC grew 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 worth $99,000 after acquiring an additional 965 shares during the period. First Trust Advisors LP grew 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 worth $5,421,000 after acquiring an additional 23,662 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Agree Realty by 13.3% during the 2nd quarter. Federated Hermes Inc. now owns 15,196 shares of the real estate investment trust's stock worth $1,110,000 after acquiring an additional 1,781 shares during the period. Institutional investors and hedge funds own 97.83% of the company's stock.

Analyst Ratings Changes

ADC has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Stifel Nicolaus lifted their target price on shares of Agree Realty from $83.50 to $84.50 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Mizuho lowered their target price on shares of Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a report on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. One equities research 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. According to MarketBeat, Agree Realty has an average rating of "Moderate Buy" and an average price target of $83.79.

Insider Buying and Selling at Agree Realty

In related news, Director Greg Lehmkuhl acquired 750 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were acquired 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 of the company's stock, valued at $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 acquired 13,295 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the transaction, the chief executive officer directly owned 675,105 shares in the company, valued at $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. Insiders bought a total of 14,191 shares of company stock valued at $1,069,944 in the last three months. 1.80% of the stock is owned by company insiders.

Agree Realty Price Performance

Shares of ADC stock opened at $75.42 on Friday. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.50. 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 firm has a fifty day moving average of $76.78 and a 200-day moving average of $75.19.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same quarter in the previous year, the business earned $0.42 EPS. The firm's revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities research analysts forecast that Agree Realty Corporation will post 4.44 earnings per share for the current year.

Agree Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.267 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. Agree Realty's payout ratio is 172.97%.

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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