GSA Capital Partners LLP Takes Position in Agree Realty Corporation $ADC

GSA Capital Partners LLP bought a new stake in Agree Realty Corporation (NYSE:ADC) during the second quarter, HoldingsChannel.com reports. The fund bought 93,165 shares of the real estate investment trust’s stock, valued at approximately $7,056,000. Agree Realty comprises 0.4% of GSA Capital Partners LLP’s investment portfolio, making the stock its 4th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in Agree Realty during the second quarter worth about $33,000. Bridgewater Advisors Inc. bought a new stake in shares of Agree Realty in the 2nd quarter valued at approximately $223,000. GAMMA Investing LLC grew its stake in shares of Agree Realty by 10.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,383 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 501 shares during the period. CoreCap Advisors LLC lifted its position in shares of Agree Realty by 9.2% during the 2nd quarter. CoreCap Advisors LLC now owns 80,269 shares of the real estate investment trust’s stock worth $6,080,000 after buying an additional 6,753 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Agree Realty by 5.6% during the 1st quarter. Pacer Advisors Inc. now owns 14,230 shares of the real estate investment trust’s stock worth $1,073,000 after buying an additional 751 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Performance

NYSE:ADC opened at $74.69 on Friday. The stock has a market capitalization of $9.29 billion, a P/E ratio of 40.16, a price-to-earnings-growth ratio of 2.44 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The firm has a 50 day moving average of $76.83 and a 200-day moving average of $76.68.

Agree Realty (NYSE:ADC) last released its quarterly 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 return on equity of 3.90% and a net margin of 28.84%.The business had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue 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, sell-side analysts anticipate that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.267 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 4.3%. Agree Realty’s payout ratio is currently 172.04%.

Insider Buying and Selling

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 shares were bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the acquisition, the chairman owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADC. Robert W. Baird set a $83.00 price target on Agree Realty in a research report on Friday, July 31st. Royal Bank Of Canada lifted their price objective on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a research note on Tuesday, April 21st. Citigroup upped their target price on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Mizuho lowered their target price on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $83.94.

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.