Friedenthal Financial Purchases 278 Shares of Agree Realty Corporation $ADC

Friedenthal Financial lifted its position in Agree Realty Corporation (NYSE:ADC) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,894 shares of the real estate investment trust’s stock after purchasing an additional 278 shares during the quarter. Friedenthal Financial’s holdings in Agree Realty were worth $869,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ADC. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Agree Realty by 15.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,105 shares of the real estate investment trust’s stock worth $782,000 after purchasing an additional 1,470 shares during the last quarter. NBC Securities Inc. bought a new stake in Agree Realty during the 1st quarter worth about $39,000. UMB Bank n.a. grew its holdings in Agree Realty by 53.2% during the 1st quarter. UMB Bank n.a. now owns 1,745 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 606 shares during the last quarter. Yousif Capital Management LLC grew its holdings in Agree Realty by 1.2% during the 1st quarter. Yousif Capital Management LLC now owns 40,036 shares of the real estate investment trust’s stock worth $3,090,000 after acquiring an additional 456 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Agree Realty by 29.1% during the 1st quarter. Handelsbanken Fonder AB now owns 27,537 shares of the real estate investment trust’s stock worth $2,126,000 after acquiring an additional 6,200 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $70.45 on Wednesday. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 2.28 and a beta of 0.55. The firm’s 50 day simple moving average is $72.31 and its 200 day simple moving average is $73.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The business had revenue of $175.53 million for the quarter, compared to the consensus estimate of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. Agree Realty’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company posted $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, sell-side analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a $0.256 dividend. This represents a dividend yield of 432.0%. The ex-dividend date is Tuesday, September 30th. Agree Realty’s dividend payout ratio (DPR) is currently 182.74%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JMP Securities reissued a “market perform” rating on shares of Agree Realty in a report on Monday, June 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a report on Saturday, September 27th. Morgan Stanley lowered shares of Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price objective on the stock. in a report on Friday, July 11th. Evercore ISI increased their price objective on shares of Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Finally, UBS Group raised their target price on shares of Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $80.63.

Insider Activity at Agree Realty

In related news, CEO Joey Agree bought 3,528 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were purchased at an average cost of $70.63 per share, for a total transaction of $249,182.64. Following the acquisition, the chief executive officer owned 638,688 shares of the company’s stock, valued at approximately $45,110,533.44. This represents a 0.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction on Friday, September 5th. The shares were bought at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the acquisition, the director directly owned 27,684 shares in the company, valued at approximately $2,016,502.56. This trade represents a 2.78% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 11,588 shares of company stock worth $830,611 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Agree Realty Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.