Agree Realty Corporation $ADC Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 159.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 184,545 shares of the real estate investment trust’s stock after purchasing an additional 113,520 shares during the period. Wellington Management Group LLP’s holdings in Agree Realty were worth $13,977,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Agree Realty in the second quarter valued at approximately $1,447,551,000. Cohen & Steers Inc. raised its position in Agree Realty by 4.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after acquiring an additional 649,301 shares in the last quarter. State Street Corp lifted its holdings in Agree Realty by 1.6% in 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 acquiring an additional 91,766 shares during the period. Principal Financial Group Inc. boosted its position in shares of Agree Realty by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock worth $341,180,000 after purchasing an additional 232,532 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its position in shares of Agree Realty by 13.9% during the 4th quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock worth $237,639,000 after purchasing an additional 402,943 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John Rakolta, Jr. purchased 20,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was bought at an average price of $73.23 per share, with a total value of $1,464,600.00. Following the completion of the transaction, the director owned 622,061 shares of the company’s stock, valued at approximately $45,553,527.03. This represents a 3.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Barclays upped their price target on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research report on Friday, July 31st. Jefferies Financial Group initiated coverage on shares of Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price for the company. Finally, Mizuho decreased their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.94.

Agree Realty Price Performance

Agree Realty stock opened at $72.67 on Tuesday. The firm has a market capitalization of $9.04 billion, a PE ratio of 39.07, a P/E/G ratio of 2.37 and a beta of 0.46. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The firm’s 50-day simple moving average is $76.43 and its 200 day simple moving average is $76.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60.

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

Agree Realty Announces Dividend

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

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.