Agree Realty Corporation $ADC Shares Acquired by Vanderbilt University

Vanderbilt University lifted its position in shares of Agree Realty Corporation (NYSE:ADC) by 11.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,074 shares of the real estate investment trust’s stock after acquiring an additional 2,585 shares during the quarter. Vanderbilt University’s holdings in Agree Realty were worth $1,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lecap Asset Management Ltd. acquired a new position in shares of Agree Realty during the second quarter worth about $1,020,000. GC Wealth Management RIA LLC acquired a new stake in shares of Agree Realty in the second quarter valued at approximately $322,000. Signaturefd LLC grew its position in shares of Agree Realty by 7.5% in the second quarter. Signaturefd LLC now owns 10,714 shares of the real estate investment trust’s stock valued at $783,000 after purchasing an additional 748 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Agree Realty by 4.9% in the second quarter. State of Alaska Department of Revenue now owns 65,357 shares of the real estate investment trust’s stock valued at $4,773,000 after purchasing an additional 3,037 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Agree Realty by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 259,974 shares of the real estate investment trust’s stock valued at $18,994,000 after purchasing an additional 1,876 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADC. UBS Group upped their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Morgan Stanley downgraded shares of Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price objective on the stock. in a research note on Friday, July 11th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. JMP Securities reissued a “market perform” rating on shares of Agree Realty in a research note on Monday, June 30th. Finally, Mizuho reduced their price objective on shares of 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 research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.58.

Insider Buying and Selling at Agree Realty

In other news, CEO Joey Agree purchased 2,100 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average cost of $72.08 per share, with a total value of $151,368.00. Following the acquisition, the chief executive officer owned 635,160 shares in the company, valued at approximately $45,782,332.80. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg Lehmkuhl purchased 750 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were purchased at an average cost of $72.84 per share, with a total value of $54,630.00. Following the completion of the acquisition, the director owned 27,684 shares in the company, valued at approximately $2,016,502.56. This represents a 2.78% increase in their position. The disclosure for this purchase can be found here. Insiders bought 7,700 shares of company stock valued at $555,926 in the last three months. Company insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

NYSE:ADC opened at $70.64 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The company has a market cap of $7.82 billion, a P/E ratio of 42.05, a P/E/G ratio of 2.34 and a beta of 0.55. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The firm’s 50 day moving average is $72.47 and its two-hundred day moving average is $73.93.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $173.95 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The business’s quarterly revenue 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 expect that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.256 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 432.0%. Agree Realty’s dividend payout ratio is presently 182.74%.

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.