19,355 Shares in Agree Realty Corporation $ADC Purchased by Capital Fund Management S.A.

Capital Fund Management S.A. acquired a new stake in shares of Agree Realty Corporation (NYSE:ADC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,355 shares of the real estate investment trust’s stock, valued at approximately $1,414,000.

A number of other hedge funds have also added to or reduced their stakes in ADC. Twin Tree Management LP grew its holdings in Agree Realty by 615,421.4% during the 1st quarter. Twin Tree Management LP now owns 86,173 shares of the real estate investment trust’s stock worth $6,652,000 after acquiring an additional 86,159 shares in the last quarter. Ascent Group LLC purchased a new stake in shares of Agree Realty in the 1st quarter worth approximately $2,459,000. Cubist Systematic Strategies LLC bought a new position in shares of Agree Realty during the first quarter valued at approximately $1,161,000. Cetera Investment Advisers boosted its stake in shares of Agree Realty by 4.4% during the second quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust’s stock valued at $2,340,000 after purchasing an additional 1,351 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Agree Realty by 1.7% during the first 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. 97.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John Rakolta, Jr. bought 25,154 shares of Agree Realty stock in a transaction that occurred on Tuesday, October 7th. The stock was bought at an average price of $70.41 per share, for a total transaction of $1,771,093.14. Following the purchase, the director directly owned 553,700 shares of the company’s stock, valued at approximately $38,986,017. The trade was a 4.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Erlich purchased 360 shares of the stock in a transaction on Friday, October 3rd. The shares were purchased 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 $3,743,610.64. This trade represents a 0.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 29,042 shares of company stock valued at $2,045,778. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ADC shares. Wells Fargo & Company upped their target price on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Barclays raised their price objective on Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group lifted their target price on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Mizuho decreased their price target on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Finally, Truist Financial lowered their price target on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and an average price target of $81.29.

Agree Realty Trading Down 0.1%

Shares of NYSE:ADC opened at $74.36 on Friday. The business’s 50-day moving average is $73.33 and its 200 day moving average is $73.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.68 and a quick ratio of 0.68. Agree Realty Corporation has a 1 year low of $67.58 and a 1 year high of $79.65. The firm has a market capitalization of $8.55 billion, a P/E ratio of 43.49, a P/E/G ratio of 2.42 and a beta of 0.54.

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

Agree Realty Announces Dividend

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

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.