Readystate Asset Management LP Makes New $2.38 Million Investment in Agree Realty Corporation $ADC

Readystate Asset Management LP purchased a new stake in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 31,481 shares of the real estate investment trust’s stock, valued at approximately $2,384,000.

Several other large investors have also made changes to their positions in ADC. Pasadena Private Wealth LLC purchased a new stake in shares of Agree Realty during the fourth quarter worth about $1,349,000. Lasalle Investment Management Securities LLC lifted its holdings in Agree Realty by 6.2% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock worth $48,586,000 after purchasing an additional 39,119 shares in the last quarter. Vision Capital Corp purchased a new position in Agree Realty in the 4th quarter worth approximately $3,920,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Agree Realty by 7.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock worth $58,916,000 after purchasing an additional 54,478 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Agree Realty by 6,172.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after purchasing an additional 99,003 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Trading Up 0.1%

Shares of ADC opened at $72.67 on Monday. The stock 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. The company’s fifty day moving average is $76.51 and its 200 day moving average is $76.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08.

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 the consensus estimate of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The business had revenue of $216.33 million for the quarter, compared to analysts’ expectations of $204.53 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Sell-side analysts expect that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho cut their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group assumed coverage on shares of Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price on the stock. Barclays upped their target price on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $83.94.

Insider Transactions at Agree Realty

In related news, Director John Rakolta, Jr. bought 20,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was purchased at an average price of $73.23 per share, for a total transaction of $1,464,600.00. Following the acquisition, the director owned 622,061 shares in the company, valued at $45,553,527.03. This trade represents a 3.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.