Great Lakes Advisors LLC Invests $4.04 Million in Agree Realty Corporation $ADC

Great Lakes Advisors LLC bought a new position in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 53,292 shares of the real estate investment trust’s stock, valued at approximately $4,036,000.

Several other hedge funds have also added to or reduced their stakes in ADC. BlackRock Inc. bought a new stake in Agree Realty in the 2nd quarter valued at $1,447,551,000. Principal Financial Group Inc. increased its position in Agree Realty by 80.8% during the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock worth $309,266,000 after buying an additional 1,918,427 shares during the period. Norges Bank acquired a new stake in shares of Agree Realty during the fourth quarter worth $116,114,000. Deutsche Bank AG bought a new stake in shares of Agree Realty in the second quarter valued at about $104,747,000. Finally, Engineers Gate Manager LP boosted its position in shares of Agree Realty by 3,043.2% in the fourth quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after acquiring an additional 1,144,617 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADC. Citigroup boosted their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a report on Friday, April 24th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings cut Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Huntington started coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. Finally, Jefferies Financial Group began coverage on Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.94.

Agree Realty Trading Up 0.1%

Shares of Agree Realty stock opened at $74.45 on Friday. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 40.03, a PEG ratio of 2.43 and a beta of 0.47. 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 Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The firm’s 50-day moving average price is $76.82 and its two-hundred day moving average price is $76.78.

Agree Realty (NYSE:ADC) last issued 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 analyst estimates 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 quarter in the previous year, the firm posted $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.267 per share. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a yield of 4.3%. Agree Realty’s dividend payout ratio is presently 172.04%.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Chairman Richard Agree purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were bought 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 approximately $6,463,461.92. This trade represents a 5.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.