Farther Finance Advisors LLC Grows Stake in Agree Realty Corporation $ADC

Farther Finance Advisors LLC raised its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 408.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 381 shares of the real estate investment trust’s stock after purchasing an additional 306 shares during the period. Farther Finance Advisors LLC’s holdings in Agree Realty were worth $28,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADC. Cullen Frost Bankers Inc. acquired a new position in shares of Agree Realty during the first quarter worth $27,000. SVB Wealth LLC acquired a new position in shares of Agree Realty during the first quarter worth $33,000. Capital Advisors Ltd. LLC increased its position in shares of 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 purchasing an additional 270 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Agree Realty during the first quarter worth $39,000. Finally, Larson Financial Group LLC increased its position in shares of 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 purchasing an additional 440 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Truist Financial set a $84.00 price target on Agree Realty in a research report on Friday, August 8th. JMP Securities reissued a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. Evercore ISI upped their target price on Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Mizuho cut their target price on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday. Eight 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.63.

Insiders Place Their Bets

In other news, insider Craig Erlich bought 360 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were acquired at an average price of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the transaction, the insider directly owned 52,846 shares in the company, valued at $3,743,610.64. The trade was a 0.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was purchased at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the transaction, the director owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. This represents a 2.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 11,588 shares of company stock worth $830,611. 1.80% of the stock is owned by corporate insiders.

Agree Realty Price Performance

NYSE:ADC opened at $70.52 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65. The stock’s 50-day moving average price is $72.26 and its 200-day moving average price is $73.77. The stock has a market capitalization of $7.80 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 2.29 and a beta of 0.55.

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

Agree Realty Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.256 per share. The ex-dividend date is Tuesday, September 30th. This represents a yield of 432.0%. Agree Realty’s dividend payout ratio is currently 182.74%.

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.