Engineers Gate Manager LP Raises Stock Holdings in Agree Realty Corporation $ADC

Engineers Gate Manager LP increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 3,043.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,182,229 shares of the real estate investment trust’s stock after acquiring an additional 1,144,617 shares during the period. Agree Realty comprises about 1.0% of Engineers Gate Manager LP’s portfolio, making the stock its 5th biggest position. Engineers Gate Manager LP’s holdings in Agree Realty were worth $85,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADC. Vanguard Group Inc. raised its position in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after purchasing an additional 84,568 shares during the last quarter. Cohen & Steers Inc. raised its position in Agree Realty by 4.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after purchasing an additional 649,301 shares during the last quarter. State Street Corp raised its position in Agree Realty by 1.6% during the 4th quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock worth $425,350,000 after purchasing an additional 91,766 shares during the last quarter. Principal Financial Group Inc. raised its position in Agree Realty by 80.8% during the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock worth $309,266,000 after purchasing an additional 1,918,427 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its position in Agree Realty by 13.9% during the 4th quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock worth $237,639,000 after purchasing an additional 402,943 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Insiders Place Their Bets

In other Agree Realty news, CEO Joey Agree bought 13,295 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the acquisition, the chief executive officer owned 675,105 shares in the company, valued at $50,909,668.05. This trade represents a 2.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the acquisition, the director owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This represents a 2.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 19,191 shares of company stock worth $1,426,994. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ADC shares. Truist Financial raised their target price on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. 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. Citigroup raised their target price on Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research report on Friday, April 24th. BMO Capital Markets lowered Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a research report on Friday, April 17th. Finally, Raymond James Financial raised their target price on Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $83.80.

Agree Realty Trading Down 1.2%

NYSE ADC opened at $73.82 on Thursday. The business has a 50 day simple moving average of $75.84 and a 200 day simple moving average of $75.26. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The stock has a market capitalization of $8.87 billion, a P/E ratio of 39.90, a P/E/G ratio of 2.51 and a beta of 0.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Research analysts expect that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.267 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, June 30th. Agree Realty’s payout ratio is presently 172.97%.

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.