Public Employees Retirement System of Ohio Buys New Shares in Agree Realty Corporation $ADC

Key Points

• Public Employees Retirement System of Ohio acquired 259,479 shares of Agree Realty, worth approximately $19.7 million, giving it a 0.21% stake. Institutional investors collectively own 97.83% of the REIT.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year, but earnings per share of $0.44 missed the $0.48 analyst consensus. Shares opened at $73.21, below the analyst consensus price target of $83.94.
• The company declared a monthly dividend of $0.267 per share, representing an annualized yield of about 4.4%. Chairman Richard Agree also purchased 5,000 shares, increasing his ownership by 5.85%.

Public Employees Retirement System of Ohio bought a new position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 259,479 shares of the real estate investment trust's stock, valued at approximately $19,653,000. Public Employees Retirement System of Ohio owned about 0.21% of Agree Realty at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its position in shares of Agree Realty by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 145 shares during the period. Azzad Asset Management Inc. ADV increased its stake in shares of Agree Realty by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust's stock worth $1,070,000 after purchasing an additional 154 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Agree Realty by 0.9% in the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust's stock valued at $1,402,000 after purchasing an additional 171 shares during the period. Fifth Third Bancorp raised its holdings in shares of Agree Realty by 2.7% in the 4th quarter. Fifth Third Bancorp now owns 6,778 shares of the real estate investment trust's stock valued at $488,000 after purchasing an additional 176 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its stake 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 last quarter. 97.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Agree Realty

In other news, Chairman Richard Agree bought 5,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was 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 of the company's stock, valued at $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Agree Realty Trading Up 0.0%

Shares of ADC stock opened at $73.21 on Friday. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The company has a market capitalization of $9.11 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47. The firm has a 50 day moving average price of $76.77 and a two-hundred day moving average price of $76.77. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). The firm had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.Agree Realty's revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, analysts predict that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a yield of 4.4%. Agree Realty's dividend payout ratio (DPR) is presently 172.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADC shares. Robert W. Baird set a $83.00 price target on Agree Realty in a report on Friday, July 31st. Barclays upped their price objective on Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Mizuho reduced their target price on Agree Realty from $86.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. Weiss Ratings upgraded Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. Finally, Jefferies Financial Group initiated coverage on shares of Agree Realty in a research report on Monday, June 1st. They set a "buy" rating and a $84.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Agree Realty currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.

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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