Agree Realty Corporation $ADC Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Agree Realty Corporation (NYSE:ADC) by 880.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,904 shares of the real estate investment trust’s stock after purchasing an additional 104,079 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Agree Realty worth $8,468,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. acquired a new stake in Agree Realty in the 1st quarter worth about $27,000. Farther Finance Advisors LLC lifted its holdings in shares of Agree Realty by 408.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 306 shares during the period. SVB Wealth LLC acquired a new stake in shares of Agree Realty in the first quarter worth approximately $33,000. Larson Financial Group LLC grew its holdings in Agree Realty by 415.1% in the first quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 440 shares during the period. Finally, IFP Advisors Inc purchased a new stake in Agree Realty in the second quarter valued at approximately $69,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joey Agree acquired 3,528 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was bought at an average cost of $70.63 per share, with a total value of $249,182.64. Following the transaction, the chief executive officer directly owned 638,688 shares in the company, valued at approximately $45,110,533.44. This represents a 0.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were acquired at an average cost of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the transaction, the director owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. The trade was a 2.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 29,792 shares of company stock valued at $2,100,408. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADC. UBS Group increased their price target on shares of Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. KeyCorp increased their target price on Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Barclays lowered their price target on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 20th. Royal Bank Of Canada upped their price target on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $80.73.

Agree Realty Stock Down 0.6%

NYSE ADC opened at $73.32 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The business has a 50 day moving average price of $72.57 and a two-hundred day moving average price of $73.38. The stock has a market cap of $8.43 billion, a PE ratio of 42.88, a P/E/G ratio of 2.28 and a beta of 0.55.

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, beating analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $183.22 million for the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, sell-side analysts predict that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be issued a $0.262 dividend. The ex-dividend date is Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 4.3%. Agree Realty’s payout ratio is currently 183.63%.

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.