Oppenheimer Asset Management Inc. Has $1.90 Million Position in Agree Realty Corporation $ADC

Oppenheimer Asset Management Inc. increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 23.5% in the second quarter, Holdings Channel reports. The institutional investor owned 26,027 shares of the real estate investment trust’s stock after buying an additional 4,957 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Agree Realty were worth $1,902,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Agree Realty by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 14,913,633 shares of the real estate investment trust’s stock worth $1,151,183,000 after acquiring an additional 363,681 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Agree Realty by 10.7% in the first quarter. Centersquare Investment Management LLC now owns 2,431,960 shares of the real estate investment trust’s stock worth $187,723,000 after purchasing an additional 234,641 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Agree Realty by 17.8% during the first quarter. JPMorgan Chase & Co. now owns 2,338,219 shares of the real estate investment trust’s stock worth $180,487,000 after purchasing an additional 353,884 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Agree Realty by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,695,297 shares of the real estate investment trust’s stock worth $130,860,000 after purchasing an additional 49,645 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Agree Realty by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,581,170 shares of the real estate investment trust’s stock valued at $122,049,000 after purchasing an additional 31,030 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Joey Agree acquired 3,528 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were bought at an average cost of $70.63 per share, with a total value of $249,182.64. Following the completion of the transaction, the chief executive officer directly owned 638,688 shares of the company’s stock, valued at $45,110,533.44. This trade represents a 0.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were bought at an average price of $72.84 per share, with a total value of $54,630.00. Following the purchase, the director owned 27,684 shares in the company, valued at $2,016,502.56. The trade was a 2.78% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 36,742 shares of company stock worth $2,601,704. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

ADC has been the topic of several analyst reports. UBS Group boosted 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their price target on Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. KeyCorp raised their price target on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Mizuho dropped their price objective on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.73.

Agree Realty Trading Down 0.4%

Shares of NYSE:ADC opened at $72.82 on Friday. 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 has a market capitalization of $8.37 billion, a P/E ratio of 42.59, a price-to-earnings-growth ratio of 2.28 and a beta of 0.55. The company has a 50-day simple moving average of $72.48 and a 200 day simple moving average of $73.70.

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

Agree Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.262 dividend. This is a boost from Agree Realty’s previous monthly dividend of $0.26. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 4.3%. Agree Realty’s dividend payout ratio (DPR) is currently 179.53%.

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.