Vise Technologies Inc. Makes New $1.19 Million Investment in Agree Realty Corporation $ADC

Key Points

• Vise Technologies opened a new position in Agree Realty, buying 16,445 shares worth about $1.19 million in the fourth quarter.
• Agree Realty reported better-than-expected quarterly results, with EPS of $0.50 versus $0.47 expected and revenue of $211.49 million, up 18.7% year over year.
• The company also declared a quarterly dividend of $0.267 per share payable July 15, while insider buying continued, including purchases by Chairman Richard Agree and CEO Joey Agree.

Vise Technologies Inc. bought a new position in Agree Realty Corporation (NYSE:ADC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 16,445 shares of the real estate investment trust's stock, valued at approximately $1,185,000.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Agree Realty by 0.5% in 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. State Street Corp lifted its holdings in shares of Agree Realty by 0.5% in the 3rd quarter. State Street Corp now owns 5,792,525 shares of the real estate investment trust's stock worth $412,954,000 after buying an additional 27,546 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Agree Realty by 80.8% in the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust's stock worth $309,266,000 after buying an additional 1,918,427 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Agree Realty by 1.8% in the 3rd quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust's stock worth $205,748,000 after buying an additional 51,269 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Agree Realty by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 2,509,922 shares of the real estate investment trust's stock worth $180,823,000 after buying an additional 117,346 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Trading Down 0.1%

Shares of NYSE ADC opened at $73.31 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $8.80 billion, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 2.47 and a beta of 0.48. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The business has a fifty day moving average price of $75.95 and a 200 day moving average price of $75.24.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $211.49 million during the quarter, compared to analysts' expectations of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Equities research analysts expect that Agree Realty Corporation will post 4.44 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 1.5%. The ex-dividend date is Tuesday, June 30th. Agree Realty's dividend payout ratio is 172.97%.

Insider Buying and Selling

In other Agree Realty news, Chairman Richard Agree purchased 5,000 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $71.41 per share, for a total transaction 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. This represents a 5.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joey Agree purchased 13,295 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the purchase, 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. The disclosure for this purchase is available in the SEC filing. Insiders purchased 19,191 shares of company stock worth $1,426,994 in the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADC has been the subject of several research reports. Barclays lowered their target price on Agree Realty from $86.00 to $84.00 and set an "equal weight" rating for the company in a report on Tuesday, May 19th. Weiss Ratings upgraded Agree Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 6th. Jefferies Financial Group initiated coverage on Agree Realty in a report on Monday, June 1st. They issued a "buy" rating and a $84.00 target price for the company. Royal Bank Of Canada upped their target price on Agree Realty from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Finally, Citigroup upped their price objective on Agree Realty from $77.00 to $82.50 and gave the stock a "neutral" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.80.

Agree Realty Company 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.

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