Elevation Point Wealth Partners LLC Acquires New Shares in Agree Realty Corporation $ADC

Elevation Point Wealth Partners LLC acquired a new position in Agree Realty Corporation (NYSE:ADC) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,622 shares of the real estate investment trust’s stock, valued at approximately $2,175,000.

Several other large investors have also recently added to or reduced their stakes in the business. Jane Street Group LLC increased its stake in Agree Realty by 268.9% during the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock valued at $2,112,000 after buying an additional 19,948 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 356 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Agree Realty in the second quarter valued at approximately $1,875,000. EverSource Wealth Advisors LLC increased its stake in shares of Agree Realty by 245.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 965 shares during the period. Finally, First Trust Advisors LP raised its holdings in Agree Realty by 46.8% during the second quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust’s stock worth $5,421,000 after purchasing an additional 23,662 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Huntington assumed coverage on shares of Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price target for the company. Mizuho reduced their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Barclays lifted their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. 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’s stock. According to data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and a consensus price target of $83.94.

Agree Realty Stock Up 0.1%

ADC stock opened at $73.95 on Monday. The company has a 50 day moving average of $76.78 and a two-hundred day moving average of $76.80. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 2.42 and a beta of 0.47. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The firm had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, equities analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.267 dividend. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, August 31st. Agree Realty’s dividend payout ratio (DPR) is presently 172.04%.

Insiders Place Their Bets

In other news, Chairman Richard Agree acquired 5,000 shares of Agree Realty stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the transaction, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. The trade was a 5.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Agree Realty 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.