PGGM Investments Has $73.98 Million Holdings in Agree Realty Corporation $ADC

PGGM Investments cut its holdings in Agree Realty Corporation (NYSE:ADC) by 12.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,027,100 shares of the real estate investment trust’s stock after selling 141,927 shares during the quarter. PGGM Investments’ holdings in Agree Realty were worth $73,982,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearstead Trust LLC grew its stake in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 242 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 215 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Agree Realty in the third quarter valued at about $32,000. Clearstead Advisors LLC grew its stake in shares of Agree Realty by 163.8% in the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 285 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Agree Realty by 71.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 192 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Agree Realty

In related news, CEO Joey Agree purchased 13,295 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the purchase, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg Lehmkuhl purchased 750 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the purchase, the director owned 34,465 shares in the company, valued at $2,587,976.85. This represents a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 14,191 shares of company stock valued at $1,069,944 in the last three months. Company insiders own 1.80% of the company’s stock.

Agree Realty Trading Down 0.1%

ADC opened at $75.42 on Tuesday. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The company has a 50-day simple moving average of $76.69 and a 200 day simple moving average of $75.23. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 40.77, a P/E/G ratio of 2.54 and a beta of 0.50.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. Agree Realty’s 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. Analysts predict that Agree Realty Corporation will post 4.44 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.267 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty’s dividend payout ratio is currently 172.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target on the stock. in a research note on Friday, April 17th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Mizuho decreased 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, May 13th. Raymond James Financial upped their price objective 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. Finally, UBS Group upped their price objective on shares of Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.79.

About Agree Realty

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.