Readystate Asset Management LP Invests $2.38 Million in Agree Realty Corporation $ADC

Readystate Asset Management LP purchased a new stake in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,481 shares of the real estate investment trust’s stock, valued at approximately $2,384,000.

Other large investors also recently bought and sold shares of the company. Pasadena Private Wealth LLC bought a new stake in Agree Realty in the 4th quarter worth approximately $1,349,000. Lasalle Investment Management Securities LLC lifted its holdings in shares of Agree Realty by 6.2% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock valued at $48,586,000 after buying an additional 39,119 shares during the period. Vision Capital Corp purchased a new position in shares of Agree Realty in the 4th quarter worth $3,920,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Agree Realty by 7.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock worth $58,916,000 after acquiring an additional 54,478 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Agree Realty by 6,172.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after acquiring an additional 99,003 shares during the period. 97.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho lowered their target price on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Jefferies Financial Group assumed coverage on Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price target for the company. Barclays increased their price objective on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Huntington initiated coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.94.

Insider Activity

In other news, Director John Rakolta, Jr. bought 20,000 shares of Agree Realty stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the acquisition, the director owned 622,061 shares of the company’s stock, valued at $45,553,527.03. The trade was a 3.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $72.67 on Monday. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The stock’s fifty day moving average is $76.51 and its 200 day moving average is $76.62. The stock has a market cap of $9.04 billion, a P/E ratio of 39.07, a P/E/G ratio of 2.37 and a beta of 0.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82.

Agree Realty (NYSE:ADC) last released its quarterly earnings results 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). The company had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Sell-side analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Agree Realty’s payout ratio is 172.04%.

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.