Caisse de depot et placement du Quebec Purchases Shares of 124,472 Agree Realty Corporation $ADC

Caisse de depot et placement du Quebec purchased a new stake in shares of Agree Realty Corporation (NYSE:ADC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 124,472 shares of the real estate investment trust’s stock, valued at approximately $9,428,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADC. BlackRock Inc. bought a new position in shares of Agree Realty during the 2nd quarter valued at about $1,447,551,000. Principal Financial Group Inc. lifted its stake in Agree Realty by 80.8% during the fourth 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 purchasing an additional 1,918,427 shares during the last quarter. Norges Bank bought a new stake in Agree Realty during the fourth quarter worth approximately $116,114,000. Deutsche Bank AG acquired a new position in Agree Realty in the second quarter worth approximately $104,747,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Agree Realty during the 2nd quarter valued at $92,533,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Up 0.0%

Shares of Agree Realty stock opened at $73.21 on Friday. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The company has a market cap of $9.11 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.39 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $76.77 and a 200 day moving average price of $76.77.

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

Agree Realty Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 4.4%. Agree Realty’s payout ratio is presently 172.04%.

Insider Buying and Selling

In related news, Chairman Richard Agree acquired 5,000 shares of the company’s stock in a transaction on 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 owned 90,512 shares in the company, valued at $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Mizuho cut their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Barclays raised their target price 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. Jefferies Financial Group started coverage on shares of Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price target on the stock. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, 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 objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.