Sumitomo Mitsui Trust Group Inc. Acquires 54,478 Shares of Agree Realty Corporation $ADC

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Agree Realty Corporation (NYSE:ADC) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 781,592 shares of the real estate investment trust’s stock after buying an additional 54,478 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.65% of Agree Realty worth $58,916,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADC. Principal Financial Group Inc. lifted its position in Agree Realty by 80.8% during the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock valued at $309,266,000 after acquiring an additional 1,918,427 shares during the period. Norges Bank bought a new position in shares of Agree Realty during the fourth quarter valued at approximately $116,114,000. Engineers Gate Manager LP increased its stake in shares of Agree Realty by 3,043.2% during the fourth quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after purchasing an additional 1,144,617 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Agree Realty by 41.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock valued at $204,813,000 after purchasing an additional 826,719 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its holdings in shares of Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after purchasing an additional 649,301 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ADC shares. Raymond James Financial boosted their price target on Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 17th. Mizuho lowered their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Truist Financial lifted their price objective on Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Agree Realty in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada increased their target price on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and an average target price of $83.80.

Insider Activity

In other Agree Realty news, Chairman Richard Agree acquired 5,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joey Agree acquired 13,295 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the acquisition, the chief executive officer owned 675,105 shares of the company’s stock, valued at $50,909,668.05. The trade was a 2.01% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 19,045 shares of company stock valued at $1,415,943 in the last quarter. 1.80% of the stock is currently owned by insiders.

Agree Realty Stock Performance

Shares of ADC stock traded up $0.02 on Friday, reaching $77.87. The stock had a trading volume of 971,695 shares, compared to its average volume of 1,096,901. 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 Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The stock has a market cap of $9.35 billion, a P/E ratio of 42.09, a price-to-earnings-growth ratio of 2.59 and a beta of 0.47. The company has a 50 day simple moving average of $75.37 and a 200 day simple moving average of $75.65.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating 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 company had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. Agree Realty’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. Equities research analysts expect that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 1.4%. Agree Realty’s dividend payout ratio is presently 172.97%.

Agree Realty Profile

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.