Vision Capital Corp Purchases New Stake in Agree Realty Corporation $ADC

Vision Capital Corp bought a new position in Agree Realty Corporation (NYSE:ADC) during the 4th quarter, HoldingsChannel.com reports. The fund bought 54,428 shares of the real estate investment trust’s stock, valued at approximately $3,920,000. Agree Realty accounts for about 1.7% of Vision Capital Corp’s portfolio, making the stock its 9th biggest position.

Several other hedge funds also recently bought and sold shares of ADC. Jane Street Group LLC increased its position in Agree Realty by 268.9% in the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 19,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 356 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Agree Realty in the 2nd quarter worth about $1,875,000. EverSource Wealth Advisors LLC increased its position in Agree Realty by 245.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 965 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Agree Realty by 46.8% in the 2nd quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust’s stock worth $5,421,000 after purchasing an additional 23,662 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, for a total transaction of $56,317.50. Following the purchase, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard Agree bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average price of $71.41 per share, with a total value of $357,050.00. Following the purchase, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 19,191 shares of company stock worth $1,426,994 in the last 90 days. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Agree Realty in a research report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price on the stock. UBS Group upped their target price on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Royal Bank Of Canada upped their target price on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Morgan Stanley set a $81.00 price target on Agree Realty in a research note on Tuesday, April 21st. Finally, Citigroup upped their price target on Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.80.

Agree Realty Stock Performance

ADC opened at $75.74 on Friday. The company has a market cap of $9.10 billion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.48. The stock has a 50-day moving average of $75.96 and a 200-day moving average of $75.27. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities research analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.267 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty’s dividend payout ratio is presently 172.97%.

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.