Voya Investment Management LLC Buys 23,023 Shares of Agree Realty Corporation $ADC

Voya Investment Management LLC increased its stake in shares of Agree Realty Corporation (NYSE:ADC) by 190.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,117 shares of the real estate investment trust’s stock after buying an additional 23,023 shares during the quarter. Voya Investment Management LLC’s holdings in Agree Realty were worth $2,495,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Twin Tree Management LP raised its position in Agree Realty by 615,421.4% in the 1st quarter. Twin Tree Management LP now owns 86,173 shares of the real estate investment trust’s stock worth $6,652,000 after purchasing an additional 86,159 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Agree Realty in the 1st quarter valued at $1,161,000. Cetera Investment Advisers raised its position in shares of Agree Realty by 4.4% during the second quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust’s stock worth $2,340,000 after acquiring an additional 1,351 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Agree Realty by 33.5% during the second quarter. Fifth Third Bancorp now owns 6,030 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 1,512 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 306 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Transactions at Agree Realty

In other Agree Realty news, insider Craig Erlich acquired 360 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were acquired at an average price of $70.84 per share, for a total transaction of $25,502.40. Following the acquisition, the insider directly owned 52,846 shares of the company’s stock, valued at approximately $3,743,610.64. This trade represents a 0.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joey Agree acquired 3,528 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was acquired at an average price 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 in the company, valued at $45,110,533.44. This trade represents a 0.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 29,042 shares of company stock valued at $2,045,778 over the last 90 days. 1.80% of the stock is owned by company insiders.

Agree Realty Trading Down 0.0%

ADC opened at $72.37 on Friday. The firm’s fifty day moving average is $73.41 and its two-hundred day moving average is $72.94. 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 firm has a market cap of $8.32 billion, a PE ratio of 42.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.54. Agree Realty Corporation has a twelve month low of $67.58 and a twelve month high of $79.65.

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 (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. The company had revenue of $183.22 million during the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities research analysts anticipate that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.262 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Agree Realty’s dividend payout ratio (DPR) is currently 183.63%.

Analyst Upgrades and Downgrades

ADC has been the subject of several recent research reports. Stifel Nicolaus set a $83.50 price objective on Agree Realty in a report on Tuesday, November 25th. Royal Bank Of Canada boosted their price target on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised their price objective on shares of Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Mizuho dropped their target price on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Finally, 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 note on Friday, October 24th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.32.

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.