Savant Capital LLC Has $1.76 Million Stock Position in Agree Realty Corporation $ADC

Savant Capital LLC boosted its stake in shares of Agree Realty Corporation (NYSE:ADC) by 7.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 24,142 shares of the real estate investment trust’s stock after buying an additional 1,737 shares during the quarter. Savant Capital LLC’s holdings in Agree Realty were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new stake in Agree Realty in the 1st quarter worth $27,000. Farther Finance Advisors LLC lifted its stake in shares of Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 306 shares during the period. SVB Wealth LLC acquired a new stake in Agree Realty during the first quarter worth about $33,000. Larson Financial Group LLC grew its position in Agree Realty by 415.1% during the first quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 440 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in Agree Realty during the second quarter valued at about $69,000. 97.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ADC shares. UBS Group raised their price objective on Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Truist Financial reduced their target price on Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Mizuho dropped their price objective on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada lifted their target price on shares of Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.73.

Agree Realty Stock Up 0.5%

Shares of NYSE:ADC opened at $73.77 on Wednesday. The company’s fifty day moving average is $72.54 and its 200-day moving average is $73.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65. The company has a market capitalization of $8.48 billion, a PE ratio of 43.14, a P/E/G ratio of 2.28 and a beta of 0.55.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $183.22 million during the quarter, compared to the consensus estimate of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities research analysts predict that Agree Realty Corporation will post 4.27 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 Friday, December 12th. Investors of record on Friday, November 28th will be given a dividend of $0.262 per share. The ex-dividend date is Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 4.3%. Agree Realty’s dividend payout ratio is 183.63%.

Insiders Place Their Bets

In other Agree Realty news, Director Greg Lehmkuhl purchased 750 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $72.84 per share, with a total value of $54,630.00. Following the acquisition, the director directly owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. This trade represents a 2.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director John Rakolta, Jr. acquired 25,154 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was acquired at an average price of $70.41 per share, with a total value of $1,771,093.14. Following the transaction, the director owned 553,700 shares in the company, valued at approximately $38,986,017. The trade was a 4.76% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 31,892 shares of company stock valued at $2,251,776 in the last 90 days. Insiders own 1.80% of the company’s stock.

Agree Realty 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.