Universal Beteiligungs und Servicegesellschaft mbH Boosts Holdings in Agree Realty Corporation $ADC

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Agree Realty Corporation (NYSE:ADC) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 539,032 shares of the real estate investment trust’s stock after buying an additional 6,395 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.49% of Agree Realty worth $39,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in ADC. Vanguard Group Inc. increased its stake in Agree Realty by 2.5% during the first quarter. Vanguard Group Inc. now owns 14,913,633 shares of the real estate investment trust’s stock worth $1,151,183,000 after acquiring an additional 363,681 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Agree Realty by 6.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,680,417 shares of the real estate investment trust’s stock worth $205,489,000 after purchasing an additional 170,827 shares during the period. Centersquare Investment Management LLC increased its position in shares of Agree Realty by 10.7% during the 1st quarter. Centersquare Investment Management LLC now owns 2,431,960 shares of the real estate investment trust’s stock worth $187,723,000 after purchasing an additional 234,641 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Agree Realty by 17.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,338,219 shares of the real estate investment trust’s stock valued at $180,487,000 after buying an additional 353,884 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Agree Realty by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,695,297 shares of the real estate investment trust’s stock valued at $130,860,000 after buying an additional 49,645 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ADC shares. Truist Financial reduced their price target on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. UBS Group raised their price target on Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Evercore ISI boosted their price objective on Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 15th. KeyCorp raised their target price on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.73.

Agree Realty Stock Performance

Shares of ADC opened at $73.83 on Tuesday. Agree Realty Corporation has a 1 year low of $67.58 and a 1 year high of $79.65. The stock has a market capitalization of $8.49 billion, a PE ratio of 43.18, a PEG ratio of 2.28 and a beta of 0.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day simple moving average of $72.65 and a 200-day simple moving average of $73.28.

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

Agree Realty Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Agree Realty’s payout ratio is presently 183.63%.

Insiders Place Their Bets

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the completion of the purchase, the director directly owned 27,684 shares in the company, valued at $2,016,502.56. This trade represents a 2.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Erlich purchased 360 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was bought at an average price of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the purchase, the insider directly owned 52,846 shares of the company’s stock, valued at $3,743,610.64. The trade was a 0.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 29,792 shares of company stock worth $2,100,408. 1.80% of the stock is owned by corporate insiders.

Agree Realty Profile

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.