Agree Realty Corporation $ADC Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of Agree Realty Corporation (NYSE:ADC) by 51.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 854,616 shares of the real estate investment trust’s stock after selling 896,414 shares during the period. American Century Companies Inc. owned about 0.77% of Agree Realty worth $62,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its stake in Agree Realty by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 55,086 shares of the real estate investment trust’s stock worth $4,252,000 after buying an additional 519 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Agree Realty during the first quarter valued at about $263,000. AE Wealth Management LLC acquired a new stake in shares of Agree Realty in the first quarter valued at $358,000. Cetera Investment Advisers lifted its position in shares of Agree Realty by 10.0% during the first quarter. Cetera Investment Advisers now owns 30,671 shares of the real estate investment trust’s stock worth $2,368,000 after purchasing an additional 2,781 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Agree Realty by 2.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,371 shares of the real estate investment trust’s stock worth $6,358,000 after purchasing an additional 1,798 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Price Performance

ADC opened at $75.24 on Friday. The company has a 50 day moving average of $72.96 and a two-hundred day moving average of $73.23. The company has a market cap of $8.65 billion, a P/E ratio of 44.00, a P/E/G ratio of 2.28 and a beta of 0.55. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The business had revenue of $183.22 million during the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, analysts expect that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be given a $0.262 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, November 28th. Agree Realty’s dividend payout ratio is presently 183.63%.

Analyst Ratings Changes

ADC has been the subject of several recent analyst reports. Stifel Nicolaus set a $83.50 target price on Agree Realty in a research note on Tuesday. Evercore ISI increased their price objective on Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Wells Fargo & Company lifted their target price on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada increased their target price on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Finally, Barclays reduced their price target on shares of Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 20th. Nine research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.21.

Insider Activity at Agree Realty

In other news, insider Craig Erlich purchased 360 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were acquired at an average cost of $70.84 per share, with a total value of $25,502.40. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joey Agree bought 3,528 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was acquired at an average cost of $70.63 per share, for a total transaction of $249,182.64. Following the acquisition, the chief executive officer directly owned 638,688 shares of the company’s stock, valued at $45,110,533.44. The trade was a 0.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 29,792 shares of company stock valued at $2,100,408. Insiders own 1.80% of the company’s stock.

Agree Realty 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.