Principal Financial Group Inc. Grows Stake in Agree Realty Corporation $ADC

Principal Financial Group Inc. boosted its holdings in Agree Realty Corporation (NYSE:ADC) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,526,088 shares of the real estate investment trust’s stock after acquiring an additional 232,532 shares during the quarter. Principal Financial Group Inc.’s holdings in Agree Realty were worth $341,180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADC. Private Advisor Group LLC raised its stake in Agree Realty by 5.0% in the first quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 145 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Agree Realty by 2.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 154 shares in the last quarter. Azzad Asset Management Inc. ADV increased its holdings in shares of Agree Realty by 1.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 154 shares during the last quarter. IFP Advisors Inc raised its position in shares of Agree Realty by 18.2% during the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 171 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Agree Realty by 0.9% during the 1st quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock valued at $1,402,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling

In other Agree Realty news, CEO Joey Agree bought 13,295 shares of Agree Realty stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the acquisition, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg Lehmkuhl acquired 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the acquisition, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. This represents a 2.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 19,045 shares of company stock worth $1,415,943 in the last three months. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the subject of several research analyst reports. Jefferies Financial Group started coverage on Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price target for the company. Barclays reduced their price objective on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada raised their price objective on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a research report on Friday, April 17th. Finally, Raymond James Financial upped their target price on Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.80.

Agree Realty Price Performance

Shares of NYSE ADC opened at $78.05 on Wednesday. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50-day moving average is $75.44 and its 200 day moving average is $75.75. The stock has a market capitalization of $9.37 billion, a P/E ratio of 42.19, a P/E/G ratio of 2.61 and a beta of 0.47.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The business had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same quarter last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, sell-side analysts expect that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.267 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.1%. Agree Realty’s dividend payout ratio (DPR) is 172.97%.

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.