Harbour Investments Inc. Has $675,000 Stock Holdings in Agree Realty Corporation $ADC

Harbour Investments Inc. increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 13,885.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,370 shares of the real estate investment trust’s stock after buying an additional 9,303 shares during the quarter. Harbour Investments Inc.’s holdings in Agree Realty were worth $675,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ADC. Principal Financial Group Inc. grew its position in Agree Realty by 80.8% during the fourth quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock worth $309,266,000 after buying an additional 1,918,427 shares in the last quarter. JPMorgan Chase & Co. grew its position in Agree Realty by 65.6% during the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock worth $143,268,000 after buying an additional 799,185 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Agree Realty by 311.0% during the third quarter. Duff & Phelps Investment Management Co. now owns 838,570 shares of the real estate investment trust’s stock worth $59,572,000 after buying an additional 634,520 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Agree Realty by 532.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 714,772 shares of the real estate investment trust’s stock worth $50,777,000 after buying an additional 601,689 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC grew its position in Agree Realty by 208.5% during the third quarter. Lasalle Investment Management Securities LLC now owns 635,405 shares of the real estate investment trust’s stock worth $45,139,000 after buying an additional 429,469 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Stock Down 0.5%

NYSE ADC opened at $74.21 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $76.31 and its two-hundred day moving average is $75.27. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 2.49 and a beta of 0.50. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 posted $0.42 earnings per share. Agree Realty’s quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Equities analysts forecast that Agree Realty Corporation will post 4.44 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Joey Agree bought 13,295 shares of the business’s 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 completion of the purchase, the chief executive officer owned 675,105 shares of the company’s stock, valued at approximately $50,909,668.05. The trade was a 2.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Lehmkuhl bought 750 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, with a total value of $56,317.50. Following the purchase, the director directly owned 34,465 shares of the company’s stock, valued at $2,587,976.85. The trade was a 2.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 14,191 shares of company stock valued at $1,069,944 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ADC shares. UBS Group lifted their price objective on Agree Realty from $82.00 to $91.00 and gave the company a “buy” rating in a report on Monday, March 9th. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Mizuho decreased their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Raymond James Financial lifted their price objective on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a report on Tuesday, March 17th. Finally, Truist Financial lifted their price objective on Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.79.

Agree Realty Company 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.