Vanguard Personalized Indexing Management LLC Has $1.30 Million Stock Position in Agree Realty Corporation $ADC

Vanguard Personalized Indexing Management LLC raised its stake in Agree Realty Corporation (NYSE:ADC) by 10.2% during the 2nd quarter, Holdings Channel reports. The fund owned 17,812 shares of the real estate investment trust’s stock after acquiring an additional 1,652 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Agree Realty were worth $1,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Aberdeen Group plc grew its position in shares of Agree Realty by 19.4% in the second quarter. Aberdeen Group plc now owns 32,510 shares of the real estate investment trust’s stock valued at $2,375,000 after purchasing an additional 5,271 shares during the last quarter. Lmcg Investments LLC lifted its holdings in Agree Realty by 18.8% during the 2nd quarter. Lmcg Investments LLC now owns 84,393 shares of the real estate investment trust’s stock worth $6,166,000 after purchasing an additional 13,383 shares during the last quarter. Blue Trust Inc. boosted its stake in Agree Realty by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,770 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 544 shares during the period. IFP Advisors Inc acquired a new position in Agree Realty in the 2nd quarter valued at $69,000. Finally, WESPAC Advisors LLC acquired a new position in Agree Realty in the 2nd quarter valued at $795,000. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. UBS Group raised their price target on shares of Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Barclays dropped their price objective on shares of 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. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Finally, Evercore ISI raised their target price on shares of Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.63.

Agree Realty Trading Up 0.8%

ADC opened at $75.16 on Friday. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 2.44 and a beta of 0.55. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a twelve month low of $67.58 and a twelve month high of $79.65. The company has a 50-day simple moving average of $72.19 and a 200 day simple moving average of $73.60.

Agree Realty (NYSE:ADC) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $173.95 million. During the same period in the previous year, the company earned $1.04 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Analysts predict that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.262 per share. This is an increase from Agree Realty’s previous monthly dividend of $0.26. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, October 31st. Agree Realty’s dividend payout ratio (DPR) is presently 182.74%.

Insiders Place Their Bets

In other Agree Realty news, insider Craig Erlich acquired 360 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was acquired at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the transaction, the insider directly owned 52,846 shares in the company, valued at $3,743,610.64. This represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joey Agree acquired 3,528 shares of Agree Realty stock in a transaction that occurred on Thursday, October 2nd. The stock was acquired at an average cost of $70.63 per share, for a total transaction of $249,182.64. Following the completion of the purchase, the chief executive officer directly owned 638,688 shares of the company’s stock, valued at $45,110,533.44. This represents a 0.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 36,742 shares of company stock valued at $2,601,704 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Agree Realty 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.