Connor Clark & Lunn Investment Management Ltd. Invests $4.12 Million in Agree Realty Corporation $ADC

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 54,358 shares of the real estate investment trust’s stock, valued at approximately $4,117,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC lifted its holdings in Agree Realty by 192.1% in the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 242 shares in the last quarter. Wiser Advisor Group LLC purchased a new stake in shares of Agree Realty during the third quarter worth $32,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Agree Realty by 71.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 192 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Agree Realty by 163.8% in the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 285 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its position in shares of Agree Realty by 214.4% in the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 373 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADC shares. Huntington began coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price target on the stock. Mizuho cut their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research note on Friday, July 31st. Weiss Ratings raised shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Finally, Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and a consensus price target of $83.94.

Agree Realty Stock Down 0.7%

Shares of ADC opened at $73.19 on Friday. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The company has a market capitalization of $9.10 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. The stock has a fifty day simple moving average of $76.77 and a two-hundred day simple moving average of $76.79. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last posted its quarterly 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 company had revenue of $216.33 million for the quarter, compared to analysts’ expectations of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

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

Insider Buying and Selling

In other news, Chairman Richard Agree bought 5,000 shares of Agree Realty stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, with a total value 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

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.