34,700 Shares in Agree Realty Corporation $ADC Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of Agree Realty Corporation (NYSE:ADC) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 34,700 shares of the real estate investment trust’s stock, valued at approximately $2,616,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clearstead Trust LLC raised its holdings in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 242 shares during the last quarter. Wiser Advisor Group LLC acquired a new stake in Agree Realty during the 3rd quarter valued at approximately $32,000. Clearstead Advisors LLC boosted its holdings in shares of Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 285 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Agree Realty by 71.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 192 shares during the period. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Agree Realty by 178.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 350 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADC has been the subject of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Barclays dropped their price objective on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 19th. Truist Financial boosted their target price on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Citigroup increased their price objective on Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. One 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’s stock. Based on data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and a consensus price target of $83.80.

Insiders Place Their Bets

In other Agree Realty news, CEO Joey Agree purchased 13,295 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the purchase, the chief executive officer directly owned 675,105 shares in the company, valued at approximately $50,909,668.05. The trade was a 2.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard Agree acquired 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the transaction, the chairman directly owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 19,191 shares of company stock worth $1,426,994 in the last ninety days. 1.80% of the stock is owned by corporate insiders.

Agree Realty Price Performance

Shares of ADC opened at $77.00 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day simple moving average of $75.43 and a two-hundred day simple moving average of $75.28. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The stock has a market cap of $9.25 billion, a PE ratio of 41.62, a P/E/G ratio of 2.59 and a beta of 0.48.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping 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 business had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same period last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, analysts forecast 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. Investors of record on Tuesday, June 30th will be paid a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 30th. 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.