Brummer Multi Strategy AB Invests $6.57 Million in Agree Realty Corporation $ADC

Brummer Multi Strategy AB bought a new stake in Agree Realty Corporation (NYSE:ADC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 87,127 shares of the real estate investment trust’s stock, valued at approximately $6,568,000. Agree Realty accounts for about 27.3% of Brummer Multi Strategy AB’s investment portfolio, making the stock its 2nd biggest holding.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after buying an additional 84,568 shares during the period. Cohen & Steers Inc. boosted its position in Agree Realty by 4.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after buying an additional 649,301 shares during the last quarter. State Street Corp boosted its position in Agree Realty by 1.6% in the 4th quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock valued at $425,350,000 after buying an additional 91,766 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Agree Realty by 5.4% during the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock valued at $341,180,000 after acquiring an additional 232,532 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its stake in shares of Agree Realty by 13.9% during the fourth quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock valued at $237,639,000 after acquiring an additional 402,943 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays dropped their target price 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. Huntington started coverage on Agree Realty in a research note on Wednesday. They set an “outperform” rating and a $84.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd. Jefferies Financial Group began coverage on Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Finally, Mizuho cut their target price on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.81.

Insiders Place Their Bets

In related news, Director Greg Lehmkuhl bought 750 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $75.09 per share, with a total value of $56,317.50. Following the completion of the acquisition, the director owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard Agree bought 5,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, with a total value of $357,050.00. Following the completion of the acquisition, the chairman directly owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 19,045 shares of company stock valued at $1,415,943 over the last quarter. Insiders own 1.80% of the company’s stock.

Agree Realty Stock Up 3.8%

ADC stock opened at $80.57 on Friday. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 2.58 and a beta of 0.47. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The firm has a fifty day moving average price of $75.54 and a two-hundred day moving average price of $75.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same period last year, the firm posted $0.42 EPS. 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. Research analysts predict that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.267 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 4.0%. Agree Realty’s dividend payout ratio is 172.97%.

Agree Realty Company 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.