Public Employees Retirement System of Ohio Grows Stake in Agree Realty Corporation $ADC

Public Employees Retirement System of Ohio grew its holdings in Agree Realty Corporation (NYSE:ADC) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 259,974 shares of the real estate investment trust’s stock after buying an additional 1,876 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.24% of Agree Realty worth $18,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its stake in shares of Agree Realty by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 139 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Agree Realty by 61.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 4,551 shares during the period. AE Wealth Management LLC purchased a new position in shares of Agree Realty in the 1st quarter valued at approximately $358,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Agree Realty by 10.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 21,070 shares of the real estate investment trust’s stock valued at $1,626,000 after purchasing an additional 1,941 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Agree Realty by 77.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 112,702 shares of the real estate investment trust’s stock valued at $8,699,000 after purchasing an additional 49,282 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling at Agree Realty

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

Agree Realty Stock Down 0.2%

ADC stock opened at $70.52 on Friday. Agree Realty Corporation has a 1-year low of $67.58 and a 1-year high of $79.65. The business has a fifty day moving average price of $72.66 and a 200-day moving average price of $74.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $7.80 billion, a P/E ratio of 41.98, a P/E/G ratio of 2.36 and a beta of 0.56.

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

Agree Realty Announces Dividend

The company also recently disclosed a sep 25 dividend, which will be paid on Tuesday, October 14th. Investors 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 payout ratio is presently 182.74%.

Analysts Set New Price Targets

A number of research firms have recently commented on ADC. Mizuho lowered their target price on Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Barclays lowered their target price on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 20th. UBS Group lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research note on Monday, June 30th. Finally, Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus price target of $80.58.

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.