Squarepoint Ops LLC Raises Holdings in Agree Realty Corporation $ADC

Squarepoint Ops LLC increased its stake in shares of Agree Realty Corporation (NYSE:ADC) by 103.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,373 shares of the real estate investment trust’s stock after purchasing an additional 43,912 shares during the period. Squarepoint Ops LLC’s holdings in Agree Realty were worth $6,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Agree Realty in the 2nd quarter valued at approximately $1,447,551,000. Cohen & Steers Inc. increased its position in Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after buying an additional 649,301 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Agree Realty by 7,473.6% in the second quarter. California State Teachers Retirement System now owns 10,617,309 shares of the real estate investment trust’s stock worth $804,155,000 after acquiring an additional 10,477,120 shares during the last quarter. State Street Corp raised its holdings in shares of Agree Realty by 1.6% in the fourth quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock worth $425,350,000 after acquiring an additional 91,766 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Agree Realty by 5.4% in 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. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Activity at Agree Realty

In related news, Director John Rakolta, Jr. acquired 20,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $73.23 per share, with a total value of $1,464,600.00. Following the purchase, the director directly owned 622,061 shares in the company, valued at $45,553,527.03. The trade was a 3.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADC has been the topic of a number of analyst reports. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. Huntington initiated coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. Robert W. Baird set a $83.00 price target on shares of Agree Realty in a report on Friday, July 31st. Finally, Jefferies Financial Group began coverage on shares of Agree Realty in a research report on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and an average price target of $83.94.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $71.50 on Friday. The company has a market cap of $8.89 billion, a P/E ratio of 38.44, a P/E/G ratio of 2.37 and a beta of 0.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The business has a fifty day simple moving average of $76.18 and a 200-day simple moving average of $76.46.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 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 during the quarter, compared to analyst estimates of $204.53 million. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s revenue for the quarter 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. Equities research analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.267 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. Agree Realty’s dividend payout ratio is currently 172.04%.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty’s portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.