UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stake in Agree Realty Corporation $ADC

Key Points

• UBS Asset Management increased its stake in Agree Realty Corporation (NYSE: ADC) by 3.7%, acquiring an additional 26,202 shares, bringing its total holdings to 733,623 shares valued at approximately $56.6 million.
• Agree Realty reported $1.06 EPS for the last quarter, beating analyst expectations, and forecasted earnings for FY 2025 in the range of $4.290-$4.320 EPS.
• The company announced a dividend of $0.256 to be paid on October 14th, with a payout ratio of 182.74% and a dividend yield projected at 430.0%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 733,623 shares of the real estate investment trust's stock after acquiring an additional 26,202 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.67% of Agree Realty worth $56,628,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADC. Cullen Frost Bankers Inc. bought a new stake in shares of Agree Realty during the 1st quarter valued at $27,000. Bernard Wealth Management Corp. bought a new stake in Agree Realty in the fourth quarter worth approximately $31,000. SVB Wealth LLC bought a new stake in Agree Realty in the first quarter worth approximately $33,000. Capital Advisors Ltd. LLC grew its stake in Agree Realty by 137.8% in the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 270 shares during the period. Finally, NBC Securities Inc. acquired a new stake in Agree Realty in the first quarter valued at approximately $39,000. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Trading Down 0.4%

ADC stock traded down $0.28 during trading on Friday, hitting $71.25. 1,249,548 shares of the company traded hands, compared to its average volume of 878,922. The firm has a market capitalization of $7.89 billion, a PE ratio of 42.41, a P/E/G ratio of 2.39 and a beta of 0.56. Agree Realty Corporation has a 1 year low of $67.58 and a 1 year high of $79.65. The company has a 50-day moving average of $72.76 and a 200-day moving average of $74.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $175.53 million during the quarter, compared to analysts' expectations of $173.95 million. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.Agree Realty's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.256 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a yield of 430.0%. Agree Realty's dividend payout ratio is presently 182.74%.

Insider Activity at Agree Realty

In other news, Director Greg Lehmkuhl bought 750 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was purchased at an average price of $72.84 per share, with a total value of $54,630.00. Following the transaction, the director owned 27,684 shares of the company's stock, valued at approximately $2,016,502.56. The trade was a 2.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joey Agree purchased 4,108 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $72.15 per share, for a total transaction of $296,392.20. Following the purchase, the chief executive officer directly owned 633,060 shares in the company, valued at $45,675,279. The trade was a 0.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 7,700 shares of company stock valued at $555,926 in the last three months. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Truist Financial set a $84.00 target price on Agree Realty in a research report on Friday, August 8th. Mizuho lowered their target price on Agree Realty from $78.00 to $77.00 and set a "neutral" rating on the stock in a research note on Thursday, September 11th. Evercore ISI boosted their target price on Agree Realty from $83.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday. Barclays decreased their price objective on Agree Realty from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 20th. Finally, JMP Securities restated a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Agree Realty currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.58.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.