Agree Realty Corporation $ADC Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in shares of Agree Realty Corporation (NYSE:ADC) by 25.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 295,693 shares of the real estate investment trust’s stock after buying an additional 60,159 shares during the period. Hsbc Holdings PLC’s holdings in Agree Realty were worth $21,299,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC increased its stake in shares of Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 242 shares during the period. Wiser Advisor Group LLC acquired a new stake in Agree Realty in the third quarter valued at about $32,000. Creative Financial Designs Inc. ADV boosted its holdings in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 192 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in 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 purchasing an additional 285 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in Agree Realty by 178.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Transactions at Agree Realty

In related news, CEO Joey Agree acquired 13,295 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the transaction, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Greg Lehmkuhl acquired 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the purchase, the director owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 19,045 shares of company stock valued at $1,415,943 over the last three months. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 target price for the company. Raymond James Financial upped their price objective on Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 17th. Morgan Stanley set a $81.00 price objective on Agree Realty in a research report on Tuesday, April 21st. Citigroup raised their target price on Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, 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 report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.80.

Agree Realty Stock Performance

Shares of ADC opened at $78.39 on Wednesday. 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 stock has a market cap of $9.41 billion, a P/E ratio of 42.37, a PEG ratio of 2.59 and a beta of 0.47. The company has a 50-day moving average of $75.28 and a two-hundred day moving average of $75.55. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08.

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, beating the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. During the same period in the prior year, the business earned $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, research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.267 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty’s dividend payout ratio (DPR) 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.