Virtus Advisers LLC Takes Position in Agree Realty Corporation $ADC

Virtus Advisers LLC acquired a new position in shares of Agree Realty Corporation (NYSE:ADC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,879 shares of the real estate investment trust’s stock, valued at approximately $672,000.

Several other hedge funds have also modified their holdings of ADC. Ceredex Value Advisors LLC acquired a new position in Agree Realty during the second quarter worth approximately $10,399,000. Fairtree Asset Management Pty Ltd acquired a new position in shares of Agree Realty in the 2nd quarter valued at $506,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Agree Realty during the 2nd quarter valued at $4,712,000. Pasadena Private Wealth LLC purchased a new stake in shares of Agree Realty during the 2nd quarter valued at $1,587,000. Finally, NewEdge Wealth LLC acquired a new stake in shares of Agree Realty during the 2nd quarter worth $321,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group began coverage on Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective on the stock. Robert W. Baird set a $83.00 target price on Agree Realty in a report on Friday, July 31st. Mizuho dropped their target price on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Barclays raised their price target on shares of Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Huntington started coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.94.

Agree Realty Trading Up 0.1%

Shares of ADC opened at $74.45 on Friday. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The stock’s 50-day moving average is $76.82 and its two-hundred day moving average is $76.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $9.26 billion, a PE ratio of 40.03, a P/E/G ratio of 2.43 and a beta of 0.47.

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

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.267 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 4.3%. Agree Realty’s dividend payout ratio is currently 172.04%.

Insider Buying and Selling

In other Agree Realty news, Chairman Richard Agree acquired 5,000 shares of the stock in a transaction on Thursday, June 4th. The stock was purchased at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the purchase, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

About Agree Realty

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.