First Trust Advisors LP Has $3.74 Million Stake in Agree Realty Corporation $ADC

First Trust Advisors LP grew its position in Agree Realty Corporation (NYSE:ADC) by 103.0% during the first quarter, HoldingsChannel reports. The firm owned 49,635 shares of the real estate investment trust’s stock after buying an additional 25,189 shares during the period. First Trust Advisors LP’s holdings in Agree Realty were worth $3,741,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ADC. Westpac Banking Corp raised its stake in Agree Realty by 1.3% during the first quarter. Westpac Banking Corp now owns 21,333 shares of the real estate investment trust’s stock worth $1,608,000 after buying an additional 283 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Agree Realty by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,157 shares of the real estate investment trust’s stock worth $1,143,000 after acquiring an additional 581 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Agree Realty by 5.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,771,018 shares of the real estate investment trust’s stock worth $133,498,000 after acquiring an additional 89,009 shares in the last quarter. Swiss National Bank raised its position in shares of Agree Realty by 4.2% in the 1st quarter. Swiss National Bank now owns 227,382 shares of the real estate investment trust’s stock worth $17,140,000 after acquiring an additional 9,100 shares in the last quarter. Finally, Brummer Multi Strategy AB acquired a new position in shares of Agree Realty in the 1st quarter valued at about $6,568,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADC has been the topic of several research analyst reports. Barclays upped their target price on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada lifted their target price on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. BMO Capital Markets lowered Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target on the stock. in a research note on Friday, April 17th. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.94.

Agree Realty Price Performance

Shares of NYSE ADC opened at $76.12 on Thursday. The firm has a market capitalization of $9.47 billion, a P/E ratio of 40.93, a P/E/G ratio of 2.50 and a beta of 0.47. The firm’s 50-day moving average price is $76.59 and its 200-day moving average price is $76.61. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08.

Agree Realty (NYSE:ADC) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The firm had revenue of $216.33 million during the quarter, compared to analyst estimates of $204.53 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. The business’s quarterly revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities research analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.267 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty’s dividend payout ratio is presently 172.04%.

Insiders Place Their Bets

In other news, Chairman Richard Agree acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the acquisition, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. The trade was a 5.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the transaction, the director directly owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 19,045 shares of company stock worth $1,415,943. Corporate insiders own 1.80% of the company’s stock.

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.