Ethos Financial Group LLC Grows Position in Agree Realty Corporation $ADC

Ethos Financial Group LLC grew its stake in Agree Realty Corporation (NYSE:ADC) by 16.6% during the 2nd quarter, Holdings Channel reports. The fund owned 7,639 shares of the real estate investment trust’s stock after acquiring an additional 1,085 shares during the period. Ethos Financial Group LLC’s holdings in Agree Realty were worth $558,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ADC. Vanguard Group Inc. raised its stake in Agree Realty by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 14,913,633 shares of the real estate investment trust’s stock valued at $1,151,183,000 after purchasing an additional 363,681 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Agree Realty by 10.7% during 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 buying an additional 234,641 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 buying an additional 353,884 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Agree Realty by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,695,297 shares of the real estate investment trust’s stock valued at $130,860,000 after buying an additional 49,645 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Agree Realty by 2.0% during 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 buying an additional 31,030 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Trading Up 1.2%

ADC stock opened at $73.39 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.28 and a beta of 0.55. The business has a fifty day simple moving average of $72.50 and a 200-day simple moving average of $73.48. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65.

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

Agree Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.262 per share. This is a boost from Agree Realty’s previous monthly dividend of $0.26. The ex-dividend date of this dividend 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 is currently 183.63%.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, CEO Joey Agree purchased 3,528 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were purchased at an average price of $70.63 per share, for a total transaction of $249,182.64. Following the completion of the acquisition, the chief executive officer owned 638,688 shares of the company’s stock, valued at approximately $45,110,533.44. This represents a 0.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg Lehmkuhl acquired 750 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were acquired at an average price of $72.84 per share, with a total value of $54,630.00. Following the completion of the purchase, the director owned 27,684 shares of the company’s stock, valued at $2,016,502.56. This trade represents a 2.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 36,742 shares of company stock worth $2,601,704 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ADC. Mizuho lowered their target price on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Evercore ISI raised their price objective on Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. UBS Group lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Finally, Barclays decreased their price target on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.