Hsbc Holdings PLC bought a new stake in Agree Realty Corporation (NYSE:ADC – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 291,466 shares of the real estate investment trust’s stock, valued at approximately $22,129,000. Hsbc Holdings PLC owned approximately 0.23% of Agree Realty as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Clearstead Trust LLC lifted its stake in Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 242 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Agree Realty in the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Agree Realty by 71.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 192 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Agree Realty by 163.8% in the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 285 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its position in shares of Agree Realty by 214.4% during the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.
Insider Activity
In related news, Chairman Richard Agree purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the purchase, the chairman directly owned 90,512 shares in the company, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.
Agree Realty Price Performance
Agree Realty (NYSE:ADC – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The company had revenue of $216.33 million for the quarter, compared to analysts’ expectations of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, equities research analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current year.
Agree Realty Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.267 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, August 31st. Agree Realty’s dividend payout ratio is currently 172.04%.
Analyst Ratings Changes
Several research firms recently weighed in on ADC. Huntington initiated coverage on shares of Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. Mizuho decreased their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Barclays boosted their target price on Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.94.
Check Out Our Latest Research Report on ADC
Agree Realty Profile
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.
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