Thrivent Financial for Lutherans Has $25.54 Million Position in Agree Realty Corporation $ADC

Thrivent Financial for Lutherans raised its position in Agree Realty Corporation (NYSE:ADC) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 354,570 shares of the real estate investment trust’s stock after acquiring an additional 11,655 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.31% of Agree Realty worth $25,539,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ADC. Centersquare Investment Management LLC lifted its position in shares of Agree Realty by 1.8% in the 3rd quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust’s stock worth $205,748,000 after purchasing an additional 51,269 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Agree Realty by 65.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock worth $143,268,000 after purchasing an additional 799,185 shares during the period. Strs Ohio lifted its position in shares of Agree Realty by 79.2% in the 3rd quarter. Strs Ohio now owns 194,492 shares of the real estate investment trust’s stock worth $13,817,000 after purchasing an additional 85,935 shares during the period. AGP Franklin LLC purchased a new stake in shares of Agree Realty in the 3rd quarter worth approximately $1,398,000. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Agree Realty in the 3rd quarter worth approximately $971,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ADC shares. Morgan Stanley set a $81.00 price target on shares of Agree Realty in a research report on Tuesday, April 21st. Truist Financial upped their price target on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Raymond James Financial upped their price target on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 17th. Royal Bank Of Canada boosted their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Citigroup boosted their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Agree Realty Trading Down 0.0%

Shares of Agree Realty stock opened at $74.45 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 2.54 and a beta of 0.50. The firm’s 50 day simple moving average is $77.29 and its two-hundred day simple moving average is $75.12.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Analysts predict that Agree Realty Corporation will post 4.44 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.267 dividend. This represents a $1.07 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. Agree Realty’s dividend payout ratio is 172.97%.

Agree Realty 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.