VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Agree Realty Corporation $ADC

Key Points

• Virginia Retirement Systems acquired 131,142 shares of Agree Realty, valued at approximately $9.9 million, while institutional investors collectively own 97.83% of the REIT.
• Agree Realty director John Rakolta Jr. purchased 20,000 shares for roughly $1.46 million, increasing his ownership by 3.32%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an $83.94 price target, although the company recently missed quarterly EPS estimates. The REIT also declared a monthly dividend of $0.267 per share, yielding about 4.4%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 131,142 shares of the real estate investment trust's stock, valued at approximately $9,933,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.11% of Agree Realty at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADC. Clearstead Trust LLC raised its holdings in Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 242 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in Agree Realty during the 3rd quarter worth approximately $32,000. Creative Financial Designs Inc. ADV increased its position in shares of 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. Clearstead Advisors LLC raised its holdings in shares of Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 285 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Agree Realty by 214.4% in the 4th quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 373 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Insiders Place Their Bets

In other news, Director John Rakolta, Jr. acquired 20,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the completion of the acquisition, the director owned 622,061 shares of the company's stock, valued at $45,553,527.03. The trade was a 3.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays increased their target price on Agree Realty from $84.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Agree Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 25th. Mizuho cut their target price on Agree Realty from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Huntington began coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $84.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Agree Realty presently has an average rating of "Moderate Buy" and a consensus target price of $83.94.

Agree Realty Stock Performance

NYSE ADC opened at $72.87 on Wednesday. The company has a fifty day moving average of $76.37 and a two-hundred day moving average of $76.54. The company has a market capitalization of $9.06 billion, a PE ratio of 39.18, a P/E/G ratio of 2.37 and a beta of 0.46. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82.

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

Agree Realty Announces Dividend

The company also recently declared 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 of this dividend is Monday, August 31st. This represents a c) annualized dividend and a yield of 4.4%. 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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