Cetera Investment Advisers Raises Holdings in Agree Realty Corporation $ADC

Cetera Investment Advisers lifted its position in shares of Agree Realty Corporation (NYSE:ADC) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 32,022 shares of the real estate investment trust’s stock after acquiring an additional 1,351 shares during the quarter. Cetera Investment Advisers’ holdings in Agree Realty were worth $2,340,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in ADC. Mutual of America Capital Management LLC increased its position in Agree Realty by 1.0% during the first quarter. Mutual of America Capital Management LLC now owns 55,086 shares of the real estate investment trust’s stock worth $4,252,000 after buying an additional 519 shares during the period. LPL Financial LLC grew its position in shares of Agree Realty by 12.4% during the first quarter. LPL Financial LLC now owns 44,238 shares of the real estate investment trust’s stock worth $3,415,000 after acquiring an additional 4,896 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Agree Realty by 3.2% in the 1st quarter. Federated Hermes Inc. now owns 13,415 shares of the real estate investment trust’s stock valued at $1,036,000 after acquiring an additional 417 shares during the period. XTX Topco Ltd raised its position in Agree Realty by 28.7% in the 1st quarter. XTX Topco Ltd now owns 10,179 shares of the real estate investment trust’s stock valued at $786,000 after purchasing an additional 2,267 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in Agree Realty by 9.7% during the 1st quarter. Natixis Advisors LLC now owns 100,991 shares of the real estate investment trust’s stock worth $7,796,000 after purchasing an additional 8,913 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Craig Erlich purchased 360 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was acquired at an average price of $70.84 per share, for a total transaction of $25,502.40. Following the acquisition, the insider directly owned 52,846 shares of the company’s stock, valued at $3,743,610.64. This trade represents a 0.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Rakolta, Jr. acquired 25,154 shares of Agree Realty stock in a transaction that occurred on Tuesday, October 7th. The stock was bought at an average price of $70.41 per share, with a total value of $1,771,093.14. Following the purchase, the director directly owned 553,700 shares of the company’s stock, valued at approximately $38,986,017. This trade represents a 4.76% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 29,792 shares of company stock worth $2,100,408 in the last ninety days. 1.80% of the stock is owned by insiders.

Agree Realty Trading Up 0.1%

NYSE ADC opened at $75.25 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $8.65 billion, a P/E ratio of 44.01, a P/E/G 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 firm has a 50-day moving average price of $73.04 and a 200 day moving average price of $73.24.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. The company had revenue of $183.22 million for the quarter, compared to analysts’ expectations of $181.87 million. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities research analysts expect that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be given a $0.262 dividend. The ex-dividend date is Friday, November 28th. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty’s dividend payout ratio is presently 183.63%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADC. Mizuho lowered their price objective on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. UBS Group increased their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. KeyCorp boosted their price target on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Wells Fargo & Company increased their price objective on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Truist Financial lowered their target price on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.21.

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.