VIRGINIA RETIREMENT SYSTEMS ET Al Buys 12,300 Shares of Agree Realty Corporation $ADC

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Agree Realty Corporation (NYSE:ADC) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 172,678 shares of the real estate investment trust’s stock after acquiring an additional 12,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.15% of Agree Realty worth $12,438,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Evergreen Capital Management LLC lifted its holdings in shares of Agree Realty by 2.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after acquiring an additional 154 shares during the last quarter. AE Wealth Management LLC increased its position in Agree Realty by 3.5% during the 3rd quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 156 shares during the period. IFP Advisors Inc grew its position in shares of Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 171 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Agree Realty by 5.4% in the 3rd quarter. QRG Capital Management Inc. now owns 3,395 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 174 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its position in shares of Agree Realty by 5.8% in the 3rd quarter. HighPoint Advisor Group LLC now owns 3,162 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 174 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADC. Stifel Nicolaus lifted their price objective on shares of Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Robert W. Baird lifted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Truist Financial lifted their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Barclays lifted their price objective on shares of Agree Realty from $81.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Finally, Mizuho lowered their target price on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Agree Realty Stock Down 1.7%

ADC stock opened at $75.21 on Thursday. The firm’s fifty day simple moving average is $77.57 and its 200-day simple moving average is $75.12. The company has a market capitalization of $9.03 billion, a P/E ratio of 40.65, a price-to-earnings-growth ratio of 2.62 and a beta of 0.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. 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 4.43 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.267 dividend. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty’s dividend payout ratio is 172.97%.

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.