Jupiter Topco LLC Acquires Shares of 1,216,172 Agree Realty Corporation $ADC

Jupiter Topco LLC bought a new position in shares of Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,216,172 shares of the real estate investment trust’s stock, valued at approximately $92,125,000.

A number of other large investors have also recently modified their holdings of the business. Hsbc Holdings PLC acquired a new position in shares of Agree Realty during the 2nd quarter worth $22,129,000. Canada Pension Plan Investment Board acquired a new stake in Agree Realty in the second quarter valued at about $92,533,000. Legal & General Group Plc acquired a new stake in Agree Realty in the second quarter valued at about $52,047,000. The Manufacturers Life Insurance Company bought a new position in Agree Realty in the second quarter valued at about $6,778,000. Finally, Cullen Capital Management LLC bought a new position in Agree Realty in the second quarter valued at about $223,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 report on Wednesday, May 13th. Huntington initiated coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price objective for the company. Barclays raised their target price on shares of Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group assumed coverage on shares of Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price target for the company. Finally, Robert W. Baird set a $83.00 price target on Agree Realty in a research note on Friday, July 31st. One research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.94.

Agree Realty Stock Down 0.7%

NYSE:ADC opened at $73.79 on Thursday. The firm’s 50 day simple moving average is $76.78 and its 200 day simple moving average is $76.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The company has a market cap of $9.18 billion, a PE ratio of 39.67, a P/E/G ratio of 2.43 and a beta of 0.47.

Agree Realty (NYSE:ADC) last posted its 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 business had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, research analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

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

Insiders Place Their Bets

In related news, Chairman Richard Agree acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average cost of $71.41 per share, for a total transaction 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. This trade represents a 5.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

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.