GW Henssler & Associates Ltd. Buys Shares of 3,002 Agree Realty Corporation $ADC

GW Henssler & Associates Ltd. bought a new stake in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,002 shares of the real estate investment trust’s stock, valued at approximately $219,000.

A number of other institutional investors have also added to or reduced their stakes in ADC. Handelsbanken Fonder AB increased its position in Agree Realty by 29.1% during the 1st quarter. Handelsbanken Fonder AB now owns 27,537 shares of the real estate investment trust’s stock valued at $2,126,000 after purchasing an additional 6,200 shares during the period. Azzad Asset Management Inc. ADV grew its position in shares of Agree Realty by 2.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,884 shares of the real estate investment trust’s stock worth $531,000 after buying an additional 187 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Agree Realty by 4.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,609 shares of the real estate investment trust’s stock worth $896,000 after buying an additional 504 shares during the last quarter. Janney Montgomery Scott LLC grew its position 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 worth $925,000 after buying an additional 4,551 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Agree Realty in the 1st quarter worth approximately $238,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Up 2.1%

Shares of NYSE:ADC opened at $72.09 on Monday. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 42.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.55. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average price is $72.20 and its 200 day moving average price is $73.68.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $175.53 million for the quarter, compared to analyst estimates of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, equities research analysts predict that Agree Realty Corporation will post 4.27 earnings per share 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. Stockholders 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 dividend yield of 432.0%. Agree Realty’s dividend payout ratio (DPR) is 182.74%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. UBS Group boosted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Truist Financial set a $84.00 target price on shares of Agree Realty in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned 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 an average price target of $80.63.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, insider Craig Erlich bought 360 shares of the stock in a transaction dated Friday, October 3rd. The shares were acquired at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the transaction, the insider owned 52,846 shares in the company, valued at approximately $3,743,610.64. The trade was a 0.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joey Agree bought 4,108 shares of the stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $72.15 per share, for a total transaction of $296,392.20. Following the completion of the transaction, the chief executive officer owned 633,060 shares of the company’s stock, valued at approximately $45,675,279. The trade was a 0.65% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 36,742 shares of company stock valued at $2,601,704. 1.80% of the stock is currently owned by insiders.

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.