894,825 Shares in Agree Realty Corporation $ADC Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. purchased a new position in Agree Realty Corporation (NYSE:ADC) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 894,825 shares of the real estate investment trust’s stock, valued at approximately $65,376,000.

Several other large investors also recently made changes to their positions in the business. Journey Strategic Wealth LLC grew its stake in shares of Agree Realty by 3.6% in the 1st quarter. Journey Strategic Wealth LLC now owns 6,592 shares of the real estate investment trust’s stock worth $509,000 after purchasing an additional 229 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Agree Realty by 5.5% during the first quarter. Evergreen Capital Management LLC now owns 4,441 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 232 shares in the last quarter. Securian Asset Management Inc. grew its position in Agree Realty by 2.9% in the second quarter. Securian Asset Management Inc. now owns 8,362 shares of the real estate investment trust’s stock worth $611,000 after buying an additional 233 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Agree Realty by 41.7% in the second quarter. Allworth Financial LP now owns 891 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 262 shares in the last quarter. Finally, Friedenthal Financial lifted its position in shares of Agree Realty by 2.4% during the 2nd quarter. Friedenthal Financial now owns 11,894 shares of the real estate investment trust’s stock valued at $869,000 after acquiring an additional 278 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADC. Evercore ISI boosted their target price on Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Truist Financial cut their price objective on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Mizuho decreased their target price on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada lifted their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Finally, KeyCorp raised their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $80.73.

Insider Transactions at Agree Realty

In other news, insider Craig Erlich purchased 360 shares of the 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 purchase, the insider owned 52,846 shares in the company, valued at $3,743,610.64. This represents a 0.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg Lehmkuhl acquired 750 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were acquired at an average cost of $72.84 per share, for a total transaction of $54,630.00. Following the transaction, the director owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. This represents a 2.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 29,792 shares of company stock valued at $2,100,408 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

Shares of ADC opened at $73.71 on Friday. The company has a market capitalization of $8.47 billion, a PE ratio of 43.10, a PEG ratio of 2.28 and a beta of 0.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. The company’s 50 day moving average price is $72.62 and its 200 day moving average price is $73.36. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65.

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

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 4.3%. Agree Realty’s dividend payout ratio (DPR) is presently 183.63%.

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.