Vanguard Personalized Indexing Management LLC grew its holdings in Agree Realty Corporation (NYSE:ADC – Free Report) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,812 shares of the real estate investment trust’s stock after acquiring an additional 1,652 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Agree Realty were worth $1,301,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of ADC. GF Fund Management CO. LTD. grew its position in shares of Agree Realty by 7.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,961 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 132 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Agree Realty by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 139 shares in the last quarter. Journey Strategic Wealth LLC boosted its holdings in shares of Agree Realty by 3.6% in the first quarter. Journey Strategic Wealth LLC now owns 6,592 shares of the real estate investment trust’s stock valued at $509,000 after buying an additional 229 shares during the period. Evergreen Capital Management LLC increased its position in shares of Agree Realty by 5.5% during the first quarter. Evergreen Capital Management LLC now owns 4,441 shares of the real estate investment trust’s stock worth $344,000 after acquiring an additional 232 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its holdings in shares of Agree Realty by 1.0% during the first quarter. Transcend Capital Advisors LLC now owns 24,934 shares of the real estate investment trust’s stock worth $1,925,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.
Insiders Place Their Bets
In other Agree Realty news, insider Craig Erlich acquired 360 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were purchased at an average price of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the purchase, the insider directly owned 52,846 shares of the company’s stock, valued at approximately $3,743,610.64. This represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joey Agree bought 3,528 shares of Agree Realty stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average price of $70.63 per share, with a total value of $249,182.64. Following the completion of the purchase, the chief executive officer directly owned 638,688 shares in the company, valued at $45,110,533.44. This trade represents a 0.56% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 36,742 shares of company stock worth $2,601,704 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Check Out Our Latest Stock Report on Agree Realty
Agree Realty Price Performance
Shares of ADC opened at $75.16 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $72.19 and its 200 day simple moving average is $73.60. Agree Realty Corporation has a 1-year low of $67.58 and a 1-year high of $79.65. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 2.44 and a beta of 0.55.
Agree Realty (NYSE:ADC – Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The company had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, research analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.
Agree Realty Increases Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a yield of 4.2%. This is a boost from Agree Realty’s previous monthly dividend of $0.26. The ex-dividend date of this dividend is Friday, October 31st. Agree Realty’s dividend payout ratio (DPR) is presently 182.74%.
Agree Realty 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.
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