CoreCap Advisors LLC Boosts Stock Holdings in Agree Realty Corporation $ADC

CoreCap Advisors LLC raised its stake in Agree Realty Corporation (NYSE:ADC) by 9.2% during the second quarter, HoldingsChannel.com reports. The fund owned 80,269 shares of the real estate investment trust’s stock after purchasing an additional 6,753 shares during the quarter. CoreCap Advisors LLC’s holdings in Agree Realty were worth $6,080,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ADC. Vision Capital Corp purchased a new position in Agree Realty in the fourth quarter worth about $3,920,000. Sumitomo Mitsui Trust Group Inc. raised its position in Agree Realty by 7.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock valued at $58,916,000 after purchasing an additional 54,478 shares during the period. Pasadena Private Wealth LLC purchased a new stake in Agree Realty during the fourth quarter valued at approximately $1,349,000. Vanguard Group Inc. lifted its stake in shares of Agree Realty by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after purchasing an additional 84,568 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Agree Realty by 6,172.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after purchasing an additional 99,003 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Huntington assumed coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price on the stock. Royal Bank Of Canada raised their price target on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. BMO Capital Markets lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective for the company. in a research note on Friday, April 17th. Jefferies Financial Group began coverage on shares of Agree Realty in a research report on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Finally, Morgan Stanley set a $81.00 target price on shares of Agree Realty in a research note on Tuesday, April 21st. One research 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 company’s stock. According to MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.94.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Chairman Richard Agree bought 5,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $75.09 per share, with a total value of $56,317.50. Following the completion of the purchase, the director directly owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. This trade represents a 2.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 19,045 shares of company stock valued at $1,415,943 in the last quarter. 1.80% of the stock is owned by insiders.

Agree Realty Stock Down 0.3%

Shares of NYSE:ADC opened at $76.12 on Thursday. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The business has a 50 day simple moving average of $76.59 and a two-hundred day simple moving average of $76.61. The firm has a market capitalization of $9.47 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 2.50 and a beta of 0.47. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82.

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

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.267 dividend. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, July 31st. Agree Realty’s dividend payout ratio 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.