161,303 Shares in Agree Realty Corporation $ADC Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, Holdings Channel reports. The firm acquired 161,303 shares of the real estate investment trust’s stock, valued at approximately $12,217,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caisse de depot et placement du Quebec bought a new stake in shares of Agree Realty in the 2nd quarter worth approximately $9,428,000. Gallagher Fiduciary Advisors LLC purchased a new position in Agree Realty in the 2nd quarter worth about $425,000. Jupiter Topco LLC acquired a new stake in shares of Agree Realty during the second quarter valued at approximately $92,125,000. Hsbc Holdings PLC acquired a new stake in Agree Realty during the 2nd quarter valued at $22,129,000. Finally, Canada Pension Plan Investment Board acquired a new position in Agree Realty during the second quarter valued at $92,533,000. Institutional investors own 97.83% of the company’s stock.

Insider Activity

In other Agree Realty news, Chairman Richard Agree acquired 5,000 shares of Agree Realty stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $71.41 per share, with a total value of $357,050.00. Following the purchase, the chairman owned 90,512 shares in the company, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Huntington initiated coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective for the company. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Barclays raised their price target on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Mizuho lowered their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.94.

Agree Realty Stock Down 0.7%

Shares of Agree Realty stock opened at $73.19 on Friday. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.41 and a beta of 0.47. The stock has a 50-day simple moving average of $76.77 and a 200-day simple moving average of $76.79. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82.

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

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Agree Realty’s dividend payout ratio (DPR) is currently 172.04%.

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.