Easterly Investment Partners LLC Trims Stake in Agree Realty Corporation $ADC

Easterly Investment Partners LLC trimmed its stake in Agree Realty Corporation (NYSE:ADC) by 92.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,122 shares of the real estate investment trust’s stock after selling 141,140 shares during the period. Easterly Investment Partners LLC’s holdings in Agree Realty were worth $801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADC. Clearstead Trust LLC increased its stake in shares of Agree Realty by 192.1% in the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 242 shares in the last quarter. Westside Investment Management Inc. increased its stake in Agree Realty by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 215 shares in the last quarter. Wiser Advisor Group LLC purchased a new stake in Agree Realty in the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV increased its stake in Agree Realty by 71.1% in the 4th 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. Finally, Clearstead Advisors LLC increased its stake in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 285 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Stock Down 2.2%

ADC opened at $72.54 on Tuesday. The firm has a 50-day simple moving average of $76.19 and a two-hundred day simple moving average of $75.27. 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 $8.71 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 2.49 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Analysts forecast that Agree Realty Corporation will post 4.44 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty’s dividend payout ratio is 172.97%.

Insider Transactions at Agree Realty

In other Agree Realty news, CEO Joey Agree purchased 13,295 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the acquisition, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. The trade was a 2.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greg Lehmkuhl purchased 750 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $75.09 per share, with a total value of $56,317.50. Following the acquisition, the director owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 14,191 shares of company stock valued at $1,069,944. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADC shares. Stifel Nicolaus increased their price target on Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. UBS Group increased their price target on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Royal Bank Of Canada increased their price target on Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Truist Financial increased their price target on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.80.

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.