Rep. Josh Gottheimer Sells Off Shares of Agree Realty Co. (NYSE:ADC)

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Agree Realty Co. (NYSE:ADC). In a filing disclosed on May 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Agree Realty stock on April 9th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of RTX (NYSE:RTX) on 4/23/2025.
• Purchased $1,001 – $15,000 in shares of Cheniere Energy (NYSE:LNG) on 4/22/2025.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of Tri Pointe Homes (NYSE:TPH) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of KKR & Co. Inc. (NYSE:KKR) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of D.R. Horton (NYSE:DHI) on 4/21/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of Hillman Solutions (NASDAQ:HLMN) on 4/17/2025.
• Sold $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 4/17/2025.

Agree Realty Trading Up 2.1%

NYSE:ADC opened at $73.91 on Friday. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 2.88 and a beta of 0.57. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average price is $75.71 and its 200-day moving average price is $74.08. Agree Realty Co. has a 52 week low of $58.52 and a 52 week high of $79.65.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. The business had revenue of $169.16 million for the quarter, compared to analysts’ expectations of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same period in the prior year, the firm posted $0.43 EPS. On average, equities research analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.256 dividend. This represents a $3.07 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Friday, May 30th. This is an increase from Agree Realty’s previous monthly dividend of $0.25. Agree Realty’s dividend payout ratio is currently 173.45%.

Institutional Investors Weigh In On Agree Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. purchased a new position in Agree Realty during the first quarter valued at $27,000. SVB Wealth LLC purchased a new position in shares of Agree Realty during the 1st quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new position in shares of Agree Realty during the 4th quarter valued at approximately $31,000. Capital Advisors Ltd. LLC increased its holdings in Agree Realty by 137.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 270 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Agree Realty during the 1st quarter worth approximately $39,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial lifted their price objective on Agree Realty from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Robert W. Baird lifted their price target on shares of Agree Realty from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Barclays upgraded shares of Agree Realty from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $74.00 to $75.00 in a research report on Tuesday, March 4th. Mizuho lifted their target price on shares of Agree Realty from $74.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Finally, Evercore ISI boosted their target price on shares of Agree Realty from $82.00 to $83.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.04.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027.

Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2026 election.

Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025.

Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.