Pasadena Private Wealth LLC Takes $1.59 Million Position in Agree Realty Corporation $ADC

Pasadena Private Wealth LLC bought a new stake in Agree Realty Corporation (NYSE:ADC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,948 shares of the real estate investment trust’s stock, valued at approximately $1,587,000.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Agree Realty during the second quarter valued at $1,447,551,000. Vanguard Group Inc. grew 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 worth $1,133,114,000 after buying an additional 84,568 shares in the last quarter. Cohen & Steers Inc. increased its holdings in shares of Agree Realty by 4.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after buying an additional 649,301 shares during the last quarter. State Street Corp increased its holdings in shares of Agree Realty by 1.6% in the 4th quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock worth $425,350,000 after buying an additional 91,766 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Agree Realty by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock valued at $341,180,000 after buying an additional 232,532 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $74.46 on Thursday. 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 12 month low of $69.56 and a 12 month high of $82.08. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 40.03, a PEG ratio of 2.43 and a beta of 0.47. The firm’s 50-day moving average is $76.83 and its 200 day moving average is $76.76.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $204.53 million. During the same period in the previous year, the business earned $1.06 EPS. 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. Research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ADC shares. Robert W. Baird set a $83.00 price target on shares of Agree Realty in a report on Friday, July 31st. Jefferies Financial Group began coverage on Agree Realty in a research note on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective for the company. Citigroup lifted 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. Barclays boosted their target price on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Huntington began coverage on Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.94.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Chairman Richard Agree purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $71.41 per share, with a total value of $357,050.00. Following the purchase, the chairman owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

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.