Schnieders Capital Management LLC Sells 450 Shares of Agree Realty Corporation $ADC

Schnieders Capital Management LLC decreased its position in shares of Agree Realty Corporation (NYSE:ADC) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,051 shares of the real estate investment trust’s stock after selling 450 shares during the quarter. Schnieders Capital Management LLC’s holdings in Agree Realty were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GF Fund Management CO. LTD. lifted its position in Agree Realty by 7.2% during the first quarter. GF Fund Management CO. LTD. now owns 1,961 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 132 shares during the period. Sequoia Financial Advisors LLC lifted its position in Agree Realty by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 139 shares during the period. Journey Strategic Wealth LLC raised its stake in Agree Realty by 3.6% during the first quarter. Journey Strategic Wealth LLC now owns 6,592 shares of the real estate investment trust’s stock worth $509,000 after acquiring an additional 229 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Agree Realty by 5.5% during the first quarter. Evergreen Capital Management LLC now owns 4,441 shares of the real estate investment trust’s stock worth $344,000 after acquiring an additional 232 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its stake in Agree Realty by 1.0% during the first quarter. Transcend Capital Advisors LLC now owns 24,934 shares of the real estate investment trust’s stock worth $1,925,000 after acquiring an additional 237 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ADC. 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. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Morgan Stanley cut Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price target on the stock. in a report on Friday, July 11th. Mizuho cut their target price on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Finally, Evercore ISI increased their target price on Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and an average target price of $80.63.

Agree Realty Trading Up 0.8%

NYSE ADC opened at $75.16 on Monday. Agree Realty Corporation has a 12 month low of $67.58 and a 12 month high of $79.65. The firm has a market capitalization of $8.32 billion, a P/E ratio of 44.74, a PEG ratio of 2.44 and a beta of 0.55. The business has a fifty day simple moving average of $72.19 and a 200 day simple moving average of $73.58. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59.

Agree Realty (NYSE:ADC) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $173.95 million. During the same period last year, the firm posted $1.04 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, analysts predict that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $0.262 dividend. This is an increase from Agree Realty’s previous monthly dividend of $0.26. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty’s payout ratio is 182.74%.

Insider Transactions at Agree Realty

In other news, CEO Joey Agree acquired 3,528 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was bought at an average price of $70.63 per share, with a total value of $249,182.64. Following the acquisition, the chief executive officer owned 638,688 shares in the company, valued at $45,110,533.44. The trade was a 0.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Greg Lehmkuhl acquired 750 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost 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 $2,016,502.56. The trade was a 2.78% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 36,742 shares of company stock worth $2,601,704. Insiders own 1.80% of the company’s stock.

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.