J. Derek Lewis & Associates Inc. Purchases New Shares in Agree Realty Corporation $ADC

J. Derek Lewis & Associates Inc. purchased a new position in shares of Agree Realty Corporation (NYSE:ADC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,900 shares of the real estate investment trust’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in shares of Agree Realty by 268.9% during the first quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock worth $2,112,000 after buying an additional 19,948 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Agree Realty by 158.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 356 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Agree Realty during the 2nd quarter valued at approximately $1,875,000. EverSource Wealth Advisors LLC lifted its position in Agree Realty by 245.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 965 shares during the period. Finally, First Trust Advisors LP lifted its position in Agree Realty by 46.8% during 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 acquiring an additional 23,662 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Stock Performance

NYSE ADC opened at $73.23 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $75.70 and its two-hundred day moving average is $75.23. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 2.46 and a beta of 0.48.

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

Agree Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.267 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.07 dividend on an annualized basis and a yield of 1.5%. Agree Realty’s dividend payout ratio (DPR) is 172.97%.

Insider Buying and Selling at Agree Realty

In related news, CEO Joey Agree purchased 13,295 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the purchase, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. This trade represents a 2.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Richard Agree purchased 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $71.41 per share, with a total value of $357,050.00. Following the acquisition, the chairman directly owned 90,512 shares in the company, valued at approximately $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 19,191 shares of company stock valued at $1,426,994. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group began coverage on Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price on the stock. Weiss Ratings raised Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. Raymond James Financial lifted their price objective on shares of Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a research report on Tuesday, March 17th. Mizuho dropped their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Barclays cut their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.80.

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.