Friedenthal Financial Has $869,000 Holdings in Agree Realty Corporation $ADC

Friedenthal Financial grew its holdings in Agree Realty Corporation (NYSE:ADC) by 2.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,894 shares of the real estate investment trust’s stock after purchasing an additional 278 shares during the period. Friedenthal Financial’s holdings in Agree Realty were worth $869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Agree Realty by 2.5% in the first quarter. Vanguard Group Inc. now owns 14,913,633 shares of the real estate investment trust’s stock valued at $1,151,183,000 after purchasing an additional 363,681 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Agree Realty by 10.7% in the first quarter. Centersquare Investment Management LLC now owns 2,431,960 shares of the real estate investment trust’s stock valued at $187,723,000 after purchasing an additional 234,641 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Agree Realty by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,338,219 shares of the real estate investment trust’s stock valued at $180,487,000 after purchasing an additional 353,884 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 49,645 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Agree Realty by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,581,170 shares of the real estate investment trust’s stock valued at $122,049,000 after purchasing an additional 31,030 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. JMP Securities restated a “market perform” rating on shares of Agree Realty in a report on Monday, June 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a report on Saturday, September 27th. Truist Financial set a $84.00 target price on shares of Agree Realty in a report on Friday, August 8th. Finally, Barclays lowered their target price on shares of Agree Realty from $78.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 20th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.63.

Insider Activity

In related news, insider Craig Erlich purchased 360 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was acquired at an average price of $70.84 per share, with a total value of $25,502.40. Following the completion of the purchase, the insider directly owned 52,846 shares in the company, valued at $3,743,610.64. This trade represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg Lehmkuhl purchased 750 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average cost of $72.84 per share, with a total value of $54,630.00. Following the purchase, the director owned 27,684 shares of the company’s stock, valued at $2,016,502.56. This represents a 2.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 11,588 shares of company stock valued at $830,611. 1.80% of the stock is owned by company insiders.

Agree Realty Trading Up 0.3%

Shares of Agree Realty stock opened at $70.45 on Wednesday. The firm has a 50-day moving average of $72.31 and a 200-day moving average of $73.79. The stock has a market cap of $7.80 billion, a PE ratio of 41.93, a PEG ratio of 2.28 and a beta of 0.55. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71.

Agree Realty (NYSE:ADC) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The company had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. Agree Realty’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 earnings per share. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, sell-side analysts forecast that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.256 dividend. This represents a dividend yield of 432.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Agree Realty’s payout ratio is presently 182.74%.

Agree Realty Company 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.