Agree Realty Corporation $ADC Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lessened its stake in Agree Realty Corporation (NYSE:ADC) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,326 shares of the real estate investment trust’s stock after selling 2,861 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Agree Realty were worth $1,485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ADC. Nuveen LLC acquired a new position in shares of Agree Realty in the 1st quarter valued at about $64,759,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Agree Realty in the 1st quarter valued at about $41,114,000. Burkehill Global Management LP increased its stake in shares of Agree Realty by 450.0% in the 1st quarter. Burkehill Global Management LP now owns 550,000 shares of the real estate investment trust’s stock valued at $42,454,000 after purchasing an additional 450,000 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Agree Realty by 72.1% in the 1st quarter. Wellington Management Group LLP now owns 1,016,593 shares of the real estate investment trust’s stock valued at $78,471,000 after purchasing an additional 425,748 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Agree Realty by 98.7% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 821,090 shares of the real estate investment trust’s stock valued at $63,380,000 after purchasing an additional 407,820 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analysts Set New Price Targets

ADC has been the subject of several recent analyst reports. Barclays cut their price target on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 20th. Royal Bank Of Canada lifted their price target on Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. KeyCorp lifted their price target on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Truist Financial cut their price target on Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a research note on Friday. Finally, Evercore ISI lifted their price target on Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.73.

Insider Buying and Selling

In related news, insider Craig Erlich bought 360 shares of the stock in a transaction dated Friday, October 3rd. The shares were acquired at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the acquisition, the insider directly owned 52,846 shares in the company, valued at approximately $3,743,610.64. This trade represents a 0.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction dated Friday, September 5th. The shares were bought at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the acquisition, the director owned 27,684 shares in the company, valued at approximately $2,016,502.56. The trade was a 2.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 36,742 shares of company stock valued at $2,601,704. 1.80% of the stock is currently owned by company insiders.

Agree Realty Trading Down 1.2%

ADC stock opened at $74.06 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a 12-month low of $67.58 and a 12-month high of $79.65. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.44 and a beta of 0.55. The business’s 50-day moving average is $72.52 and its 200 day moving average is $73.72.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The company had revenue of $183.22 million for the quarter, compared to analysts’ expectations of $181.87 million. During the same period in the previous year, the firm posted $1.03 EPS. Agree Realty’s revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, sell-side analysts anticipate that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.262 per share. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 4.2%. This is an increase from Agree Realty’s previous monthly dividend of $0.26. Agree Realty’s payout ratio is presently 179.53%.

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.