Amundi Boosts Stock Holdings in Agree Realty Corporation $ADC

Amundi boosted its holdings in Agree Realty Corporation (NYSE:ADC) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,035 shares of the real estate investment trust’s stock after purchasing an additional 1,577 shares during the period. Amundi owned about 0.05% of Agree Realty worth $4,533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ADC. Cullen Frost Bankers Inc. bought a new stake in shares of Agree Realty in the first quarter valued at $27,000. SVB Wealth LLC purchased a new position in Agree Realty during the first quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new position in Agree Realty during the fourth quarter worth about $31,000. Capital Advisors Ltd. LLC grew its position in Agree Realty by 137.8% during the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 270 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Agree Realty in the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADC. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a report on Monday, June 30th. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Barclays dropped their price objective on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, August 20th. UBS Group increased their price objective on Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Mizuho dropped their price objective on Agree Realty from $81.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, June 16th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Insiders Place Their Bets

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of Agree Realty stock in a transaction on Friday, September 5th. The stock was acquired at an average price of $72.84 per share, with a total value of $54,630.00. Following the acquisition, the director owned 27,684 shares in the company, valued at approximately $2,016,502.56. This trade represents a 2.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joey Agree bought 2,100 shares of Agree Realty stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $72.08 per share, with a total value of $151,368.00. Following the acquisition, the chief executive officer owned 635,160 shares in the company, valued at approximately $45,782,332.80. This represents a 0.33% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 7,700 shares of company stock valued at $555,926. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Stock Down 0.5%

Shares of NYSE:ADC opened at $71.93 on Thursday. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The firm has a market capitalization of $7.96 billion, a P/E ratio of 42.82, a P/E/G ratio of 2.42 and a beta of 0.56. The stock has a 50 day moving average price of $72.72 and a 200-day moving average price of $74.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.The company had revenue of $175.53 million during the quarter, compared to analyst estimates of $173.95 million. During the same quarter last year, the company earned $1.04 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, equities research analysts anticipate that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a $0.256 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 430.0%. Agree Realty’s dividend payout ratio (DPR) is presently 182.74%.

Agree Realty Company Profile

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.