Swiss National Bank Has $14.98 Million Stock Holdings in Agree Realty Corporation $ADC

Swiss National Bank increased its position in Agree Realty Corporation (NYSE:ADC) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 204,982 shares of the real estate investment trust’s stock after purchasing an additional 4,500 shares during the quarter. Swiss National Bank owned approximately 0.19% of Agree Realty worth $14,976,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Agree Realty by 2.7% during the second quarter. Vanguard Group Inc. now owns 15,316,681 shares of the real estate investment trust’s stock worth $1,119,037,000 after buying an additional 403,048 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Agree Realty by 6.8% in the second quarter. Geode Capital Management LLC now owns 2,680,417 shares of the real estate investment trust’s stock valued at $205,489,000 after buying an additional 170,827 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in shares of Agree Realty by 10.7% during the 1st quarter. Centersquare Investment Management LLC now owns 2,431,960 shares of the real estate investment trust’s stock worth $187,723,000 after acquiring an additional 234,641 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Agree Realty by 17.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,338,219 shares of the real estate investment trust’s stock worth $180,487,000 after acquiring an additional 353,884 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Agree Realty by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,695,297 shares of the real estate investment trust’s stock valued at $130,860,000 after purchasing an additional 49,645 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Performance

ADC opened at $75.24 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The firm has a market cap of $8.65 billion, a P/E ratio of 44.00, a price-to-earnings-growth ratio of 2.28 and a beta of 0.55. The business’s fifty day moving average is $72.89 and its 200-day moving average is $73.22.

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 for the quarter, topping the consensus estimate of $1.08 by $0.02. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The business had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. During the same quarter in the prior year, the business posted $1.03 earnings per share. 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. Sell-side analysts expect that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a $0.262 dividend. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, November 28th. Agree Realty’s dividend payout ratio (DPR) is 183.63%.

Insider Activity

In other news, insider Craig Erlich acquired 360 shares of the stock in a transaction on Friday, October 3rd. The stock was acquired at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greg Lehmkuhl bought 750 shares of the business’s stock in a transaction on Friday, September 5th. The shares were acquired at an average price of $72.84 per share, with a total value of $54,630.00. Following the completion of the purchase, the director directly 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 ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 29,792 shares of company stock valued at $2,100,408. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ADC. UBS Group upped their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Barclays cut their price objective on shares of 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. KeyCorp upped their target price on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Wells Fargo & Company increased their target price on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Royal Bank Of Canada boosted 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. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.21.

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.