259,479 Shares in Agree Realty Corporation $ADC Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, Holdings Channel reports. The firm purchased 259,479 shares of the real estate investment trust’s stock, valued at approximately $19,653,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADC. Clearstead Trust LLC lifted its position in shares of Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 242 shares during the period. Wiser Advisor Group LLC acquired a new stake in shares of Agree Realty during the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV increased its position in shares of Agree Realty by 71.1% in 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. Clearstead Advisors LLC increased its position in shares of Agree Realty by 163.8% in 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. Finally, Transamerica Financial Advisors LLC raised its stake in Agree Realty by 214.4% in the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 373 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Agree Realty Trading Up 0.0%

Shares of Agree Realty stock opened at $73.21 on Friday. The firm’s 50 day moving average is $76.77 and its 200 day moving average is $76.77. The firm has a market capitalization of $9.11 billion, a PE ratio of 39.36, a price-to-earnings-growth 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 company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $216.33 million during 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%. Agree Realty’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 EPS. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities research analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Insiders Place Their Bets

In other news, Chairman Richard Agree acquired 5,000 shares of Agree Realty stock in a transaction that occurred 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 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 through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.