Daiwa Securities Group Inc. Reduces Stock Position in Agree Realty Corporation $ADC

Daiwa Securities Group Inc. reduced its position in shares of Agree Realty Corporation (NYSE:ADC) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,262,991 shares of the real estate investment trust’s stock after selling 99,405 shares during the period. Daiwa Securities Group Inc.’s holdings in Agree Realty were worth $163,003,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ADC. Clearstead Trust LLC boosted its holdings in shares of Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 242 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of Agree Realty by 100.0% during the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares during the period. Wiser Advisor Group LLC purchased a new stake in shares of Agree Realty during the third quarter worth about $32,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Agree Realty by 71.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 192 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in shares of Agree Realty by 163.8% during the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 285 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Agree Realty

In other Agree Realty news, CEO Joey Agree bought 13,295 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the acquisition, the chief executive officer owned 675,105 shares of the company’s stock, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the acquisition, the director directly owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 14,191 shares of company stock valued at $1,069,944 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADC. BMO Capital Markets lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a report on Friday, April 17th. Robert W. Baird raised their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Stifel Nicolaus raised their price objective on shares of Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Mizuho lowered their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Jefferies Financial Group started coverage on shares of Agree Realty in a report on Monday. They issued a “buy” rating and a $84.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.80.

Agree Realty Stock Performance

Shares of ADC opened at $72.16 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The company has a 50-day simple moving average of $75.99 and a two-hundred day simple moving average of $75.25. The firm has a market capitalization of $8.67 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 2.42 and a beta of 0.48.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same period last year, the business posted $0.42 earnings per share. Agree Realty’s quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, analysts anticipate that Agree Realty Corporation will post 4.44 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, May 29th. Agree Realty’s dividend payout ratio (DPR) is presently 172.97%.

Agree Realty Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.