Agree Realty Corporation $ADC Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in Agree Realty Corporation (NYSE:ADC) by 33.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,169 shares of the real estate investment trust’s stock after acquiring an additional 21,240 shares during the period. Exchange Traded Concepts LLC owned 0.08% of Agree Realty worth $6,050,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Agree Realty by 408.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 306 shares during the last quarter. SVB Wealth LLC acquired a new position in Agree Realty in the first quarter worth about $33,000. Northwestern Mutual Wealth Management Co. increased its holdings in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 356 shares during the last quarter. Allworth Financial LP increased its holdings in Agree Realty by 41.7% in the second quarter. Allworth Financial LP now owns 891 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 262 shares during the last quarter. Finally, MAI Capital Management raised its stake in Agree Realty by 122.3% during the second quarter. MAI Capital Management now owns 907 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 499 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. KeyCorp raised their price target on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Evercore ISI decreased their price target on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Finally, Stifel Nicolaus set a $83.50 price objective on shares of Agree Realty in a research report on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and an average price target of $80.32.

Insider Transactions at Agree Realty

In other Agree Realty 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 acquired at an average cost of $70.63 per share, with a total value 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. This represents a 0.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Erlich bought 360 shares of the business’s stock in a transaction on 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 purchase, the insider directly owned 52,846 shares in the company, valued at $3,743,610.64. This represents a 0.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 29,042 shares of company stock worth $2,045,778. Company insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

ADC stock opened at $72.08 on Wednesday. Agree Realty Corporation has a 1 year low of $67.58 and a 1 year high of $79.65. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 2.35 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s fifty day moving average is $73.54 and its two-hundred day moving average is $72.97.

Agree Realty (NYSE:ADC) last released its quarterly earnings data 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. The business had revenue of $183.22 million for the quarter, compared to analysts’ expectations of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. 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 company earned $1.03 EPS. 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 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Agree Realty’s payout ratio is 183.63%.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.