Quantbot Technologies LP Acquires Shares of 97,834 Agree Realty Corporation $ADC

Key Points

• Quantbot Technologies acquired 97,834 shares of Agree Realty, valued at approximately $7.41 million, giving it about 0.08% ownership. Several other institutional investors also initiated positions, with institutions holding 97.83% of the stock.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $83.94, despite some recent downgrades and a “sell” rating from Wall Street Zen.
• Agree Realty reported quarterly revenue of $216.33 million, up 16.8% year over year, but missed earnings expectations. The REIT also declared a monthly dividend of $0.267 per share, representing an indicated yield of about 4.3%.

Quantbot Technologies LP acquired a new stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 97,834 shares of the real estate investment trust's stock, valued at approximately $7,410,000. Quantbot Technologies LP owned approximately 0.08% of Agree Realty as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ADC. Evolve Private Wealth LLC purchased a new stake in shares of Agree Realty in the second quarter worth about $216,000. Westpac Banking Corp purchased a new position in Agree Realty during the 2nd quarter valued at approximately $1,952,000. William Blair Investment Management LLC purchased a new position in Agree Realty during the 2nd quarter valued at approximately $15,902,000. Landscape Capital Management L.L.C. bought a new stake in Agree Realty in the 2nd quarter worth approximately $1,157,000. Finally, Callan Family Office LLC bought a new stake in Agree Realty in the 2nd quarter worth approximately $248,000. 97.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADC has been the subject of a number of research reports. Barclays increased their target price on Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Agree Realty from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Jefferies Financial Group began 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. Finally, Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a research note on Friday, July 31st. 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.94.

Insiders Place Their Bets

In other news, Chairman Richard Agree bought 5,000 shares of Agree Realty stock in a transaction dated Thursday, June 4th. The shares were acquired at an average price of $71.41 per share, with a total value of $357,050.00. Following the completion of the purchase, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. The trade was a 5.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $73.95 on Friday. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 2.42 and a beta of 0.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $76.78 and a 200-day moving average price of $76.76. 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 released 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). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The company had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same period in the prior year, the firm posted $1.06 EPS. The business's revenue for the quarter was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts expect that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

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) dividend on an annualized basis and a yield of 4.3%. Agree Realty's payout ratio is 172.04%.

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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