Legal & General Group Plc Acquires 57,559 Shares of Agree Realty Corporation $ADC

Legal & General Group Plc lifted its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 8.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 707,930 shares of the real estate investment trust’s stock after acquiring an additional 57,559 shares during the period. Legal & General Group Plc’s holdings in Agree Realty were worth $50,992,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. lifted its holdings in shares of Agree Realty by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 215 shares during the period. Wiser Advisor Group LLC bought a new position in shares of Agree Realty during the 3rd quarter worth about $32,000. Creative Financial Designs Inc. ADV lifted its holdings in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 192 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in Agree Realty by 1,513.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 454 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in Agree Realty by 178.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 350 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Insider Activity at Agree Realty

In other Agree Realty news, CEO Joey Agree purchased 13,295 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the transaction, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Greg Lehmkuhl purchased 750 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $75.09 per share, with a total value of $56,317.50. Following the transaction, the director owned 34,465 shares in the company, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 14,191 shares of company stock valued at $1,069,944. 1.80% of the stock is owned by corporate insiders.

Agree Realty Stock Down 0.5%

Shares of NYSE:ADC opened at $74.21 on Friday. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The company has a 50 day moving average of $76.31 and a 200-day moving average of $75.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 40.11, a P/E/G ratio of 2.51 and a beta of 0.50.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. During the same quarter in the previous year, the company earned $0.42 EPS. Agree Realty’s revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, sell-side analysts forecast that Agree Realty Corporation will post 4.44 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a dividend of $0.267 per share. The ex-dividend date is Friday, May 29th. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. Agree Realty’s payout ratio is currently 172.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays cut their price target on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, May 19th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Royal Bank Of Canada lifted their price target on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Mizuho cut their price target on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Morgan Stanley set a $81.00 price target on shares of Agree Realty in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and an average price target of $83.79.

Agree Realty 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.