Agree Realty Corporation $ADC Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,542 shares of the real estate investment trust’s stock after acquiring an additional 3,959 shares during the period. DekaBank Deutsche Girozentrale owned 0.06% of Agree Realty worth $4,638,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADC. Wealth Enhancement Advisory Services LLC raised its position in shares of Agree Realty by 4.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,609 shares of the real estate investment trust’s stock worth $896,000 after acquiring an additional 504 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Agree Realty by 61.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust’s stock worth $925,000 after acquiring an additional 4,551 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Agree Realty by 10.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 21,070 shares of the real estate investment trust’s stock worth $1,626,000 after acquiring an additional 1,941 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Agree Realty by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock worth $365,000 after buying an additional 139 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its position in Agree Realty by 24.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 3,844 shares of the real estate investment trust’s stock worth $297,000 after buying an additional 743 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Trading Down 0.5%

NYSE:ADC opened at $74.75 on Friday. The firm has a market cap of $8.59 billion, a P/E ratio of 43.71, a PEG ratio of 2.44 and a beta of 0.55. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $72.45 and its 200-day simple moving average is $73.67. Agree Realty Corporation has a 12-month low of $67.58 and a 12-month high of $79.65.

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

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $0.262 dividend. The ex-dividend date of this dividend is Friday, October 31st. This is an increase from Agree Realty’s previous monthly dividend of $0.26. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. Agree Realty’s dividend payout ratio is presently 179.53%.

Insiders Place Their Bets

In other Agree Realty news, insider Craig Erlich purchased 360 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were purchased at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Lehmkuhl purchased 750 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was acquired at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the purchase, the director owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. This represents a 2.78% 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 in the last three months. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on ADC shares. Mizuho cut their price target on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Truist Financial cut their price target on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank Of Canada lifted their price target on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI lifted their price target on Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.73.

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.