Cetera Investment Advisers Grows Position in Agree Realty Corporation $ADC

Cetera Investment Advisers increased its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,022 shares of the real estate investment trust’s stock after purchasing an additional 1,351 shares during the quarter. Cetera Investment Advisers’ holdings in Agree Realty were worth $2,340,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ADC. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings 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 worth $8,699,000 after acquiring an additional 49,282 shares during the last quarter. Twin Tree Management LP raised its position in Agree Realty by 615,421.4% in the first quarter. Twin Tree Management LP now owns 86,173 shares of the real estate investment trust’s stock valued at $6,652,000 after purchasing an additional 86,159 shares during the period. Ascent Group LLC acquired a new position in Agree Realty during the first quarter worth $2,459,000. Cubist Systematic Strategies LLC purchased a new position in shares of Agree Realty during the first quarter worth $1,161,000. Finally, Sei Investments Co. raised its holdings in shares of Agree Realty by 1.7% in the 1st quarter. Sei Investments Co. now owns 462,078 shares of the real estate investment trust’s stock valued at $32,678,000 after buying an additional 7,825 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Up 0.1%

Shares of Agree Realty stock opened at $75.25 on Friday. 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 Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The company has a market capitalization of $8.65 billion, a P/E ratio of 44.01, a P/E/G ratio of 2.28 and a beta of 0.55. The company has a 50 day moving average of $73.04 and a 200 day moving average of $73.24.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $183.22 million for the quarter, compared to the consensus estimate of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, research analysts forecast that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a dividend of $0.262 per share. This represents a c) annualized dividend 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 currently 183.63%.

Analysts Set New Price Targets

ADC has been the subject of a number of research analyst reports. UBS Group raised their target price on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. KeyCorp raised their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, Barclays dropped 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 note on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $81.21.

Insiders Place Their Bets

In other Agree Realty news, Director John Rakolta, Jr. acquired 25,154 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were acquired at an average price of $70.41 per share, for a total transaction of $1,771,093.14. Following the acquisition, the director owned 553,700 shares in the company, valued at $38,986,017. The trade was a 4.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Erlich bought 360 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were acquired at an average price of $70.84 per share, with a total value of $25,502.40. Following the purchase, the insider owned 52,846 shares of the company’s stock, valued at $3,743,610.64. The trade was a 0.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 29,792 shares of company stock worth $2,100,408. 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.