Wealth Quarterback LLC Purchases Shares of 3,298 Agree Realty Corporation $ADC

Wealth Quarterback LLC acquired a new position in shares of Agree Realty Corporation (NYSE:ADC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,298 shares of the real estate investment trust’s stock, valued at approximately $241,000.

Other large investors have also made changes to their positions in the company. Nuveen LLC bought a new stake in shares of Agree Realty in the first quarter valued at about $64,759,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Agree Realty during the first quarter valued at about $41,114,000. Burkehill Global Management LP raised its holdings in Agree Realty by 450.0% in the 1st quarter. Burkehill Global Management LP now owns 550,000 shares of the real estate investment trust’s stock valued at $42,454,000 after acquiring an additional 450,000 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Agree Realty by 72.1% in the 1st quarter. Wellington Management Group LLP now owns 1,016,593 shares of the real estate investment trust’s stock worth $78,471,000 after acquiring an additional 425,748 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Agree Realty by 98.7% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 821,090 shares of the real estate investment trust’s stock worth $63,380,000 after purchasing an additional 407,820 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Up 0.5%

Shares of NYSE:ADC opened at $73.77 on Wednesday. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. The company’s fifty day moving average is $72.54 and its 200-day moving average is $73.38. The company has a market capitalization of $8.48 billion, a PE ratio of 43.14, a P/E/G ratio of 2.28 and a beta of 0.55.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The business had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. During the same quarter last year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities research analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be paid a $0.262 dividend. The ex-dividend date is Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Agree Realty’s payout ratio is 183.63%.

Insiders Place Their Bets

In other Agree Realty news, Director John Rakolta, Jr. acquired 25,154 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was purchased at an average price of $70.41 per share, for a total transaction of $1,771,093.14. Following the transaction, the director owned 553,700 shares in the company, valued at $38,986,017. This trade represents a 4.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joey Agree bought 3,528 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average price of $70.63 per share, for a total transaction of $249,182.64. Following the acquisition, the chief executive officer directly owned 638,688 shares of the company’s stock, valued at approximately $45,110,533.44. The trade was a 0.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 31,892 shares of company stock valued at $2,251,776 over the last quarter. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ADC shares. Barclays cut their target price on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 20th. Truist Financial dropped their price objective on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Evercore ISI upped their target price on shares of Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Finally, Royal Bank Of Canada increased their price target on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.73.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.