687,184 Shares in Agree Realty Corporation $ADC Purchased by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 687,184 shares of the real estate investment trust’s stock, valued at approximately $52,047,000.

A number of other large investors also recently added to or reduced their stakes in ADC. BlackRock Inc. bought a new position in Agree Realty in the 2nd quarter worth approximately $1,447,551,000. Vanguard Group Inc. grew its holdings in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after buying an additional 84,568 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after buying an additional 649,301 shares during the last quarter. State Street Corp raised its position in shares of Agree Realty by 1.6% during the fourth quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock valued at $425,350,000 after buying an additional 91,766 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Agree Realty by 5.4% in the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock worth $341,180,000 after buying an additional 232,532 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Richard Agree acquired 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman directly owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

Agree Realty Price Performance

NYSE:ADC opened at $73.21 on Friday. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 2.39 and a beta of 0.47. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The business has a 50 day simple moving average of $76.77 and a 200-day simple moving average of $76.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.267 per share. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 31st. Agree Realty’s payout ratio is presently 172.04%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Mizuho dropped their target price on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Robert W. Baird set a $83.00 price target on shares of Agree Realty in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Huntington initiated coverage on shares of Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on Agree Realty in a research report on Monday, June 1st. They set a “buy” rating and a $84.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and an average target price of $83.94.

About Agree Realty

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.