CoreCap Advisors LLC Purchases 7,186 Shares of Agree Realty Corporation $ADC

CoreCap Advisors LLC boosted its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 15.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,044 shares of the real estate investment trust’s stock after buying an additional 7,186 shares during the period. CoreCap Advisors LLC’s holdings in Agree Realty were worth $3,768,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in shares of Agree Realty during the 2nd quarter worth about $65,376,000. Norges Bank acquired a new position in Agree Realty in the second quarter worth about $65,030,000. Vanguard Group Inc. lifted its stake in Agree Realty by 2.7% during the second quarter. Vanguard Group Inc. now owns 15,316,681 shares of the real estate investment trust’s stock worth $1,119,037,000 after purchasing an additional 403,048 shares during the period. State Street Corp boosted its holdings in Agree Realty by 7.1% during the second quarter. State Street Corp now owns 5,764,979 shares of the real estate investment trust’s stock valued at $422,629,000 after purchasing an additional 381,438 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Agree Realty by 1,804.5% during the second quarter. Cubist Systematic Strategies LLC now owns 286,508 shares of the real estate investment trust’s stock valued at $20,932,000 after purchasing an additional 271,464 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADC shares. Evercore ISI dropped their target price on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Stifel Nicolaus set a $83.50 price objective on Agree Realty in a research note on Tuesday, November 25th. Mizuho reduced their target price on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. KeyCorp upped their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.23.

Insiders Place Their Bets

In related news, Director John Rakolta, Jr. acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was purchased at an average price of $72.18 per share, for a total transaction of $1,082,700.00. Following the transaction, the director directly owned 562,606 shares of the company’s stock, valued at approximately $40,608,901.08. This trade represents a 2.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $70.44 on Thursday. The business has a fifty day moving average of $72.95 and a 200-day moving average of $72.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. Agree Realty Corporation has a twelve month low of $67.58 and a twelve month high of $79.65. The firm has a market cap of $8.10 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.55.

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 (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. The business 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 firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, equities research analysts predict that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.262 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. Agree Realty’s dividend payout ratio (DPR) is currently 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.