Ibex Wealth Advisors Has $8.20 Million Stock Holdings in Agree Realty Corporation $ADC

Ibex Wealth Advisors raised its holdings in Agree Realty Corporation (NYSE:ADC) by 9.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 108,753 shares of the real estate investment trust’s stock after purchasing an additional 9,568 shares during the quarter. Ibex Wealth Advisors’ holdings in Agree Realty were worth $8,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in 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 valued at $309,266,000 after acquiring an additional 1,918,427 shares in the last quarter. Norges Bank bought a new position in shares of Agree Realty during the fourth quarter worth about $116,114,000. Engineers Gate Manager LP boosted its stake in shares of Agree Realty by 3,043.2% in the 4th quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after purchasing an additional 1,144,617 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Agree Realty by 41.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock worth $204,813,000 after purchasing an additional 826,719 shares during the period. Finally, Cohen & Steers Inc. grew its holdings in Agree Realty by 4.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after purchasing an additional 649,301 shares during the period. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADC. Jefferies Financial Group began coverage on Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Truist Financial upped their target price on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a research report on Friday, April 17th. Royal Bank Of Canada upped their price target on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.80.

Insider Buying and Selling at Agree Realty

In related news, CEO Joey Agree bought 13,295 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, the chief executive officer owned 675,105 shares of the company’s stock, valued at $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard Agree purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $71.41 per share, with a total value of $357,050.00. Following the completion of the purchase, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 19,045 shares of company stock valued at $1,415,943. Insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $77.79 on Friday. The firm’s 50-day moving average is $75.34 and its 200 day moving average is $75.63. 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 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 42.05, a PEG ratio of 2.62 and a beta of 0.47.

Agree Realty (NYSE:ADC) last announced 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. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Sell-side analysts anticipate that Agree Realty Corporation will post 4.45 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. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Agree Realty’s payout ratio is presently 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.