Royal Bank of Canada Sells 27,014 Shares of Agree Realty Corporation $ADC

Royal Bank of Canada lowered its stake in Agree Realty Corporation (NYSE:ADC) by 18.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 119,895 shares of the real estate investment trust’s stock after selling 27,014 shares during the period. Royal Bank of Canada’s holdings in Agree Realty were worth $9,036,000 as of its most recent filing with the SEC.

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

Agree Realty Stock Up 0.1%

Shares of NYSE ADC opened at $75.69 on Monday. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The stock’s fifty day moving average is $76.66 and its 200 day moving average is $76.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $9.41 billion, a P/E ratio of 40.69, a PEG ratio of 2.47 and a beta of 0.47.

Agree Realty (NYSE:ADC) last released 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). The firm had revenue of $216.33 million during the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. Agree Realty’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Sell-side analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

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

Insider Activity at Agree Realty

In other Agree Realty news, Chairman Richard Agree bought 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was purchased at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of 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 available through the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of Agree Realty stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the acquisition, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 19,045 shares of company stock valued at $1,415,943 over the last three months. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADC shares. Mizuho reduced their price target 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. Robert W. Baird set a $83.00 price objective on Agree Realty in a research report on Friday, July 31st. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a report on Friday, April 17th. Weiss Ratings raised shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Morgan Stanley set a $81.00 price target on shares of Agree Realty in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.94.

Agree Realty Company 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.