Agree Realty Corporation $ADC Shares Purchased by Lmcg Investments LLC

Lmcg Investments LLC increased its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 18.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,393 shares of the real estate investment trust’s stock after acquiring an additional 13,383 shares during the quarter. Lmcg Investments LLC owned approximately 0.08% of Agree Realty worth $6,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADC. Cullen Frost Bankers Inc. acquired a new stake in Agree Realty during the first quarter worth about $27,000. Farther Finance Advisors LLC grew its position in 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 bought a new position in Agree Realty in the 1st quarter worth about $33,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Agree Realty by 137.8% in the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 270 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Agree Realty during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial set a $84.00 price target on shares of Agree Realty in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday. UBS Group upped their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. 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. Finally, Morgan Stanley downgraded shares of Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price target for the company. in a research report on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $80.63.

Agree Realty Stock Up 2.1%

ADC stock opened at $72.09 on Friday. Agree Realty Corporation has a 12-month low of $67.58 and a 12-month high of $79.65. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 2.30 and a beta of 0.55. The company has a 50 day moving average of $72.20 and a two-hundred day moving average of $73.71.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, equities analysts anticipate that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.256 per share. The ex-dividend date is Tuesday, September 30th. This represents a dividend yield of 432.0%. Agree Realty’s dividend payout ratio (DPR) is currently 182.74%.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, CEO Joey Agree purchased 4,108 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $72.15 per share, for a total transaction of $296,392.20. Following the acquisition, the chief executive officer owned 633,060 shares of the company’s stock, valued at $45,675,279. This trade represents a 0.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Greg Lehmkuhl purchased 750 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were acquired at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the acquisition, the director directly owned 27,684 shares in the company, valued at $2,016,502.56. This represents a 2.78% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 36,742 shares of company stock worth $2,601,704 over the last quarter. Company 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.