William Blair Investment Management LLC Sells 25,271 Shares of Agree Realty Corporation $ADC

William Blair Investment Management LLC lessened its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,710 shares of the real estate investment trust’s stock after selling 25,271 shares during the quarter. William Blair Investment Management LLC’s holdings in Agree Realty were worth $25,406,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADC. Principal Financial Group Inc. grew its stake in shares of Agree Realty by 80.8% in the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock worth $309,266,000 after acquiring an additional 1,918,427 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Agree Realty by 65.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock worth $143,268,000 after acquiring an additional 799,185 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of Agree Realty by 311.0% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 838,570 shares of the real estate investment trust’s stock worth $59,572,000 after acquiring an additional 634,520 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Agree Realty by 532.1% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 714,772 shares of the real estate investment trust’s stock worth $50,777,000 after acquiring an additional 601,689 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC grew its stake in shares of Agree Realty by 208.5% in the 3rd quarter. Lasalle Investment Management Securities LLC now owns 635,405 shares of the real estate investment trust’s stock worth $45,139,000 after acquiring an additional 429,469 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ADC. Barclays reduced their target price on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 19th. Royal Bank Of Canada upped their target price on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. 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 research note on Friday, April 17th. Truist Financial upped their target price on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Finally, Robert W. Baird upped their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.79.

Agree Realty Price Performance

ADC opened at $75.42 on Tuesday. The firm has a market cap of $9.06 billion, a P/E ratio of 40.77, a PEG ratio of 2.54 and a beta of 0.50. The firm has a 50-day moving average of $76.69 and a 200 day moving average of $75.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08.

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

Agree Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.267 per share. The ex-dividend date is Friday, May 29th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty’s dividend payout ratio is presently 172.97%.

Insider Activity

In related news, CEO Joey Agree purchased 13,295 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the transaction, the chief executive officer owned 675,105 shares in the company, valued at $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg Lehmkuhl purchased 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $75.09 per share, with a total value of $56,317.50. Following the transaction, the director owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This trade represents a 2.22% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 14,191 shares of company stock valued at $1,069,944. 1.80% of the stock is owned by company insiders.

Agree Realty Company 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.