Principal Financial Group Inc. Boosts Stock Position in Agree Realty Corporation $ADC

Principal Financial Group Inc. boosted its holdings in Agree Realty Corporation (NYSE:ADC - Free Report) by 80.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,293,556 shares of the real estate investment trust's stock after buying an additional 1,918,427 shares during the quarter. Principal Financial Group Inc. owned approximately 3.74% of Agree Realty worth $309,266,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ADC. Jane Street Group LLC increased its stake in Agree Realty by 268.9% in the first quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust's stock valued at $2,112,000 after purchasing an additional 19,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 356 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Agree Realty in the second quarter valued at approximately $1,875,000. EverSource Wealth Advisors LLC increased its stake in Agree Realty by 245.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust's stock valued at $99,000 after purchasing an additional 965 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Agree Realty by 46.8% in the second quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust's stock valued at $5,421,000 after purchasing an additional 23,662 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ADC. Truist Financial increased their price target on shares of Agree Realty from $79.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, March 23rd. Barclays raised their price objective on Agree Realty from $81.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 21st. Weiss Ratings raised Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. Royal Bank Of Canada raised their price objective on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Finally, UBS Group raised their price objective on Agree Realty from $82.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agree Realty currently has an average rating of "Moderate Buy" and a consensus price target of $84.36.

Agree Realty Stock Performance

NYSE:ADC opened at $75.97 on Wednesday. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The firm's fifty day moving average price is $78.01 and its 200 day moving average price is $75.08. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 2.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

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 for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same quarter in the previous year, the company earned $0.42 EPS. The firm's revenue for the quarter 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, sell-side analysts expect that Agree Realty Corporation will post 4.43 EPS for the current year.

Agree Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be issued a $0.267 dividend. The ex-dividend date is Thursday, April 30th. This is a positive change from Agree Realty's previous monthly dividend of $0.26. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty's payout ratio is 172.97%.

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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