SG Americas Securities LLC Has $9.65 Million Stock Holdings in Agree Realty Corporation $ADC

Key Points

• SG Americas Securities LLC significantly boosted its stake in Agree Realty, increasing holdings by 1,000.6% in the first quarter to 128,058 shares valued at about $9.65 million.
• Agree Realty reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.47 estimate and revenue of $211.49 million, up 18.7% year over year.
• The company also announced a quarterly dividend of $0.267 per share, payable July 15, while analysts currently rate the stock a Moderate Buy with an average price target of $83.80.

SG Americas Securities LLC lifted its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 1,000.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,058 shares of the real estate investment trust's stock after purchasing an additional 116,423 shares during the quarter. SG Americas Securities LLC owned 0.11% of Agree Realty worth $9,653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Agree Realty by 6,172.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust's stock valued at $6,926,000 after purchasing an additional 99,003 shares during the period. Lasalle Investment Management Securities LLC increased its stake in Agree Realty by 6.2% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust's stock worth $48,586,000 after purchasing an additional 39,119 shares in the last quarter. Pasadena Private Wealth LLC acquired a new stake in Agree Realty during the 4th quarter worth approximately $1,349,000. Vanguard Group Inc. raised its holdings in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust's stock worth $1,133,114,000 after buying an additional 84,568 shares during the period. Finally, Vision Capital Corp bought a new position in Agree Realty in the fourth quarter valued at approximately $3,920,000. Institutional investors and hedge funds own 97.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADC shares. Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research report on Tuesday, April 21st. UBS Group upped their target price on shares of Agree Realty from $82.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. Raymond James Financial increased their target price on Agree Realty from $84.00 to $90.00 and gave the stock a "strong-buy" rating in a report on Tuesday, March 17th. Finally, Truist Financial lifted their price target on Agree Realty from $79.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.80.

Agree Realty Price Performance

Shares of ADC opened at $77.00 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The stock has a market capitalization of $9.25 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.59 and a beta of 0.48. The company has a 50 day moving average of $75.43 and a 200-day moving average of $75.26.

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 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The business had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities research analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.267 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, June 30th. Agree Realty's dividend payout ratio is currently 172.97%.

Insider Transactions at Agree Realty

In related news, Director Greg Lehmkuhl acquired 750 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the acquisition, the director directly owned 34,465 shares of the company's stock, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joey Agree bought 13,295 shares of the 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 transaction, the chief executive officer owned 675,105 shares of the company's stock, valued at $50,909,668.05. The trade was a 2.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 19,191 shares of company stock worth $1,426,994 in the last three months. Insiders own 1.80% of the company's stock.

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.

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Corporation (NYSE:ADC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.