Royal Bank of Canada Has $9.04 Million Stock Position in Agree Realty Corporation $ADC

Royal Bank of Canada reduced its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 18.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,895 shares of the real estate investment trust’s stock after selling 27,014 shares during the quarter. Royal Bank of Canada owned approximately 0.10% of Agree Realty worth $9,036,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ADC. Rush Island Management LP acquired a new position in Agree Realty during the first quarter worth $51,065,000. The Manufacturers Life Insurance Company increased its stake in Agree Realty by 3.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 90,835 shares of the real estate investment trust’s stock valued at $6,847,000 after buying an additional 2,662 shares during the last quarter. Quantinno Capital Management LP increased its stake in Agree Realty by 92.5% in the 1st quarter. Quantinno Capital Management LP now owns 120,322 shares of the real estate investment trust’s stock valued at $9,070,000 after buying an additional 57,829 shares during the last quarter. Lazard Asset Management LLC lifted its position in Agree Realty by 4.7% during the 1st quarter. Lazard Asset Management LLC now owns 19,615 shares of the real estate investment trust’s stock worth $1,479,000 after buying an additional 880 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Agree Realty during the 1st quarter worth about $320,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of ADC stock opened at $75.69 on Monday. The company has a fifty day moving average price of $76.66 and a two-hundred day moving average price of $76.65. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The stock has a market cap of $9.41 billion, a P/E ratio of 40.69, a P/E/G ratio of 2.47 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 quarterly earnings data 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). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, 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 paid a $0.267 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty’s dividend payout ratio is currently 172.04%.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $75.09 per share, with a total value of $56,317.50. Following the acquisition, the director owned 34,465 shares of the company’s stock, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joey Agree purchased 13,295 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price 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 $50,909,668.05. This trade represents a 2.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 19,045 shares of company stock worth $1,415,943 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADC. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Citigroup upped their target price on Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a report on Friday, April 24th. Royal Bank Of Canada increased their price target on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target for the company. in a research note on Friday, April 17th. Finally, Huntington assumed coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.94.

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.