Freestone Grove Partners LP Makes New $12.22 Million Investment in Agree Realty Corporation $ADC

Freestone Grove Partners LP bought a new stake in Agree Realty Corporation (NYSE:ADC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 161,303 shares of the real estate investment trust’s stock, valued at approximately $12,217,000. Freestone Grove Partners LP owned 0.13% of Agree Realty at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Agree Realty by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after buying an additional 84,568 shares during the period. Lasalle Investment Management Securities LLC lifted its position in shares of Agree Realty by 6.2% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock worth $48,586,000 after purchasing an additional 39,119 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Agree Realty by 7.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock worth $58,916,000 after buying an additional 54,478 shares during the period. Vision Capital Corp acquired a new position in Agree Realty in the 4th quarter worth $3,920,000. Finally, Pasadena Private Wealth LLC acquired a new position in Agree Realty in the 4th quarter worth $1,349,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Activity

In related news, Chairman Richard Agree acquired 5,000 shares of Agree Realty stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the transaction, the chairman directly owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADC shares. Barclays lifted their target price on Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Weiss Ratings raised Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Robert W. Baird set a $83.00 price objective on Agree Realty in a research note on Friday, July 31st. Huntington assumed coverage on Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective on the stock. Finally, Mizuho cut their target price on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.94.

Agree Realty Price Performance

Shares of NYSE ADC opened at $73.19 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The business has a 50 day simple moving average of $76.77 and a 200-day simple moving average of $76.79.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). The business had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities research analysts expect that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.267 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 4.4%. Agree Realty’s dividend payout ratio (DPR) is 172.04%.

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.