Mitsubishi UFJ Asset Management Co. Ltd. Acquires 6,841 Shares of Agree Realty Corporation $ADC

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Agree Realty Corporation (NYSE:ADC) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,163 shares of the real estate investment trust’s stock after buying an additional 6,841 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Agree Realty were worth $6,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ADC. Principal Financial Group Inc. grew its stake in shares of Agree Realty by 80.8% in the fourth quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock worth $309,266,000 after acquiring an additional 1,918,427 shares during the period. JPMorgan Chase & Co. lifted its position in Agree Realty by 65.6% during the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock valued at $143,268,000 after purchasing an additional 799,185 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Agree Realty by 311.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 838,570 shares of the real estate investment trust’s stock worth $59,572,000 after purchasing an additional 634,520 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Agree Realty by 532.1% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 714,772 shares of the real estate investment trust’s stock worth $50,777,000 after purchasing an additional 601,689 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC grew its position in Agree Realty by 208.5% in the 3rd quarter. Lasalle Investment Management Securities LLC now owns 635,405 shares of the real estate investment trust’s stock worth $45,139,000 after purchasing an additional 429,469 shares during the period. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Down 0.0%

ADC opened at $76.21 on Monday. The firm’s 50 day simple moving average is $77.91 and its two-hundred day simple moving average is $75.10. The company has a market capitalization of $9.15 billion, a PE ratio of 41.20, a PEG ratio of 2.61 and a beta of 0.50. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities analysts forecast that Agree Realty Corporation will post 4.43 EPS for the current year.

Agree Realty Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be given a $0.267 dividend. The ex-dividend date is Thursday, April 30th. This is a positive change from Agree Realty’s previous monthly dividend of $0.26. This represents a c) dividend on an annualized basis and a yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is currently 172.97%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets cut Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target on the stock. in a report on Friday, April 17th. Weiss Ratings raised Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. Citigroup upped their price objective on Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research report on Friday, April 24th. Raymond James Financial increased their target price on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a report on Tuesday, March 17th. Finally, Robert W. Baird raised their target price on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.36.

Agree Realty Company 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.