Hsbc Holdings PLC Invests $22.13 Million in Agree Realty Corporation $ADC

Hsbc Holdings PLC acquired a new position in Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, HoldingsChannel reports. The fund acquired 291,466 shares of the real estate investment trust’s stock, valued at approximately $22,129,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Trust LLC lifted its holdings in Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 242 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Agree Realty in the third quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV lifted its stake in shares of 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 buying an additional 192 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 285 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in Agree Realty by 214.4% in the 4th quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 373 shares during the period. 97.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADC. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a report on Friday, July 31st. Barclays raised their price target on Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Huntington started coverage on Agree Realty in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price target for the company. Jefferies Financial Group started coverage on Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Finally, Mizuho dropped 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.94.

Agree Realty Price Performance

ADC stock opened at $73.19 on Friday. The firm has a 50 day moving average of $76.77 and a 200-day moving average of $76.79. The firm has a market capitalization of $9.10 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last posted its 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). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. During the same quarter in the prior year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, sell-side analysts predict that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.267 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 4.4%. Agree Realty’s dividend payout ratio is presently 172.04%.

Insider Activity

In other Agree Realty news, Chairman Richard Agree acquired 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This represents a 5.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

About Agree Realty

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.