Uniplan Investment Counsel Inc. Sells 8,483 Shares of Agree Realty Corporation $ADC

Key Points

• Uniplan Investment Counsel Inc. has reduced its position in Agree Realty Corporation by 6.1%, selling 8,483 shares and now holding a total of 130,854 shares.
• Several institutional investors have increased their stakes in Agree Realty, indicating strong interest as 97.83% of the stock is held by such investors.
• Agree Realty recently announced a monthly dividend payment of $0.256 per share, reflecting an annual yield of 4.2% with a notable payout ratio of 182.74%.

Uniplan Investment Counsel Inc. decreased its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,854 shares of the real estate investment trust's stock after selling 8,483 shares during the period. Agree Realty comprises 1.0% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 26th biggest position. Uniplan Investment Counsel Inc. owned about 0.12% of Agree Realty worth $10,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. acquired a new stake in Agree Realty during the 1st quarter valued at $27,000. SVB Wealth LLC bought a new stake in shares of Agree Realty during the first quarter worth $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Agree Realty in the fourth quarter valued at $31,000. Capital Advisors Ltd. LLC raised its holdings in shares of 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 buying an additional 270 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in Agree Realty during the 1st quarter worth about $39,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADC. Morgan Stanley cut shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price objective for the company. in a research report on Friday, July 11th. Wall Street Zen lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. JMP Securities restated a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Mizuho decreased their price objective on Agree Realty from $81.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Finally, Truist Financial set a $84.00 target price on Agree Realty in a research note on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $80.50.

Agree Realty Trading Up 1.4%

Shares of NYSE ADC opened at $72.99 on Friday. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The firm has a market capitalization of $8.08 billion, a P/E ratio of 43.44, a P/E/G ratio of 2.44 and a beta of 0.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. The company's 50 day simple moving average is $72.74 and its 200 day simple moving average is $74.31.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS 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 net margin of 28.16% and a return on equity of 3.47%. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, analysts predict that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.256 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty's dividend payout ratio is presently 182.74%.

Insider Transactions at Agree Realty

In related news, CEO Joey Agree bought 4,108 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $72.15 per share, for a total transaction of $296,392.20. Following the transaction, the chief executive officer owned 633,060 shares of the company's stock, valued at $45,675,279. This represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 6,950 shares of company stock worth $501,296 in the last quarter. 1.80% of the stock is currently owned by company insiders.

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.

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