Agree Realty Corporation $ADC Stock Position Lifted by Savant Capital LLC

Savant Capital LLC grew its position in Agree Realty Corporation (NYSE:ADC) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,142 shares of the real estate investment trust’s stock after acquiring an additional 1,737 shares during the quarter. Savant Capital LLC’s holdings in Agree Realty were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in Agree Realty in the first quarter worth $27,000. Farther Finance Advisors LLC lifted its holdings in shares of Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 306 shares during the period. SVB Wealth LLC bought a new position in Agree Realty during the first quarter valued at about $33,000. Larson Financial Group LLC grew its holdings in Agree Realty by 415.1% during the first quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 440 shares during the period. Finally, IFP Advisors Inc bought a new stake in Agree Realty in the second quarter worth about $69,000. 97.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director John Rakolta, Jr. purchased 25,154 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were bought at an average price of $70.41 per share, with a total value of $1,771,093.14. Following the completion of the transaction, the director directly owned 553,700 shares in the company, valued at $38,986,017. This trade represents a 4.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joey Agree acquired 3,528 shares of Agree Realty stock in a transaction dated Thursday, October 2nd. The stock was purchased at an average price of $70.63 per share, with a total value of $249,182.64. Following the completion of the purchase, the chief executive officer directly owned 638,688 shares of the company’s stock, valued at $45,110,533.44. The trade was a 0.56% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 31,892 shares of company stock worth $2,251,776. 1.80% of the stock is currently owned by company insiders.

Agree Realty Stock Performance

Shares of ADC opened at $73.77 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 2.28 and a beta of 0.55. Agree Realty Corporation has a 12 month low of $67.58 and a 12 month high of $79.65. The company’s fifty day moving average is $72.54 and its 200-day moving average is $73.38.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share 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 analysts’ expectations 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 quarter in the previous year, the firm earned $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities analysts expect that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 12th. Shareholders 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 is presently 183.63%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Truist Financial dropped their price target on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Barclays decreased their target price on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 20th. Royal Bank Of Canada upped their target price on Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.73.

About Agree Realty

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.