VIRGINIA RETIREMENT SYSTEMS ET Al Grows Stock Holdings in Agree Realty Corporation $ADC

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 172,678 shares of the real estate investment trust’s stock after buying an additional 12,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Agree Realty were worth $12,438,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in Agree Realty by 100.0% during the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 215 shares during the period. Wiser Advisor Group LLC purchased a new stake in shares of Agree Realty in the third quarter valued at about $32,000. Cornerstone Planning Group LLC grew its holdings in shares of Agree Realty by 1,513.3% in the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 454 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Agree Realty by 178.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 350 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 356 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Price Performance

Agree Realty stock opened at $75.21 on Thursday. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The business has a fifty day moving average of $77.57 and a two-hundred day moving average of $75.12. The company has a market cap of $9.03 billion, a P/E ratio of 40.65, a price-to-earnings-growth ratio of 2.62 and a beta of 0.50.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same quarter last year, the company earned $0.42 earnings per share. Agree Realty’s quarterly revenue 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, analysts predict that Agree Realty Corporation will post 4.43 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a $0.267 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.07 dividend on an annualized basis and a yield of 1.4%. Agree Realty’s dividend payout ratio (DPR) is 172.97%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James Financial increased their price target on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 17th. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Mizuho dropped their price target on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday. Robert W. Baird increased their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Stifel Nicolaus raised their target price on shares of Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.