DekaBank Deutsche Girozentrale Boosts Stake in Agree Realty Corporation $ADC

DekaBank Deutsche Girozentrale lifted its holdings in Agree Realty Corporation (NYSE:ADC) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,542 shares of the real estate investment trust’s stock after buying an additional 3,959 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Agree Realty were worth $4,638,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Sequoia Financial Advisors LLC boosted its position in Agree Realty by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 139 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Agree Realty by 61.2% during the first quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust’s stock worth $925,000 after purchasing an additional 4,551 shares in the last quarter. AE Wealth Management LLC purchased a new stake in Agree Realty during the first quarter worth $358,000. Oppenheimer Asset Management Inc. boosted its position in Agree Realty by 10.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 21,070 shares of the real estate investment trust’s stock worth $1,626,000 after purchasing an additional 1,941 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its position in Agree Realty by 77.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 112,702 shares of the real estate investment trust’s stock worth $8,699,000 after purchasing an additional 49,282 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ADC shares. KeyCorp boosted their target price on Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group boosted their target price on Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Finally, Mizuho reduced their price objective on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.73.

Agree Realty Stock Down 0.5%

Shares of NYSE:ADC opened at $74.75 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The stock’s fifty day simple moving average is $72.45 and its 200-day simple moving average is $73.67. The company has a market capitalization of $8.59 billion, a P/E ratio of 43.71, a P/E/G ratio of 2.44 and a beta of 0.55.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $183.22 million during the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, equities research analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.262 dividend. The ex-dividend date is Friday, October 31st. This is an increase from Agree Realty’s previous monthly dividend of $0.26. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty’s payout ratio is currently 179.53%.

Insiders Place Their Bets

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the purchase, the director owned 27,684 shares of the company’s stock, valued at $2,016,502.56. This trade represents a 2.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Erlich bought 360 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was acquired at an average price of $70.84 per share, with a total value of $25,502.40. Following the completion of the purchase, the insider directly owned 52,846 shares of the company’s stock, valued at approximately $3,743,610.64. The trade was a 0.69% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 36,742 shares of company stock valued at $2,601,704. 1.80% of the stock is owned by company insiders.

Agree Realty Company 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.