Pasadena Private Wealth LLC Buys Shares of 18,735 Agree Realty Corporation $ADC

Pasadena Private Wealth LLC bought a new stake in shares of Agree Realty Corporation (NYSE:ADC) in the fourth quarter, Holdings Channel reports. The fund bought 18,735 shares of the real estate investment trust’s stock, valued at approximately $1,349,000.

Other hedge funds have also added to or reduced their stakes in the company. Clearstead Trust LLC grew its holdings in Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 242 shares in the last quarter. Westside Investment Management Inc. increased its stake in Agree Realty by 100.0% in the 3rd 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 last quarter. Wiser Advisor Group LLC bought a new position in Agree Realty in the 3rd quarter worth about $32,000. Creative Financial Designs Inc. ADV increased its stake in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 192 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $74.50 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $8.95 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50. The business’s 50-day moving average price is $76.41 and its 200-day moving average price is $75.28. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Sell-side analysts forecast that Agree Realty Corporation will post 4.44 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared 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. This represents a $1.07 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, May 29th. Agree Realty’s dividend payout ratio (DPR) is presently 172.97%.

Insider Activity at Agree Realty

In related news, Director Greg Lehmkuhl purchased 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the transaction, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joey Agree purchased 13,295 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the transaction, the chief executive officer owned 675,105 shares in the company, valued at $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 14,191 shares of company stock worth $1,069,944. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Robert W. Baird upped their target price on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Barclays decreased their target price on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 19th. BMO Capital Markets lowered Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a research note on Friday, April 17th. Morgan Stanley set a $81.00 target price on Agree Realty in a research note on Tuesday, April 21st. Finally, Truist Financial upped their target price on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.79.

Agree Realty 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.