Vestmark Advisory Solutions Inc. Cuts Stock Position in Agree Realty Corporation $ADC

Vestmark Advisory Solutions Inc. decreased its holdings in Agree Realty Corporation (NYSE:ADC) by 15.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,213 shares of the real estate investment trust’s stock after selling 987 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Agree Realty were worth $381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADC. Cullen Frost Bankers Inc. bought a new position in Agree Realty in the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its position in shares of Agree Realty by 408.0% during the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 306 shares during the last quarter. SVB Wealth LLC purchased a new position in Agree Realty during the first quarter valued at $33,000. Larson Financial Group LLC increased its holdings in Agree Realty by 415.1% in the 1st quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 440 shares during the last quarter. Finally, IFP Advisors Inc purchased a new stake in Agree Realty in the 2nd quarter worth $69,000. Institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling

In other news, insider Craig Erlich bought 360 shares of Agree Realty stock in a transaction on Friday, October 3rd. The stock was acquired at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the acquisition, the insider owned 52,846 shares of the company’s stock, valued at $3,743,610.64. This trade represents a 0.69% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greg Lehmkuhl acquired 750 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was purchased at an average cost of $72.84 per share, for a total transaction of $54,630.00. Following the transaction, the director owned 27,684 shares in the company, valued at approximately $2,016,502.56. The trade was a 2.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 29,792 shares of company stock worth $2,100,408 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADC shares. Mizuho reduced their target price on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Truist Financial decreased their price objective on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, October 24th. UBS Group increased their target price on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada upped their price target on shares of Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Evercore ISI lifted their price objective on shares of Agree Realty from $83.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and an average target price of $80.73.

Agree Realty Stock Down 0.4%

Shares of NYSE ADC opened at $73.49 on Thursday. The stock has a 50 day moving average price of $72.57 and a 200 day moving average price of $73.38. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 42.86, a PEG ratio of 2.28 and a beta of 0.55. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The firm had revenue of $183.22 million for the quarter, compared to analyst estimates of $181.87 million. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Sell-side analysts expect that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, November 28th. Agree Realty’s dividend payout ratio is 183.63%.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.