Agree Realty Corporation $ADC Shares Bought by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 56.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 375,502 shares of the real estate investment trust’s stock after purchasing an additional 136,118 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Agree Realty were worth $26,676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Agree Realty by 2.7% during the second quarter. Vanguard Group Inc. now owns 15,316,681 shares of the real estate investment trust’s stock worth $1,119,037,000 after acquiring an additional 403,048 shares during the last quarter. State Street Corp lifted its stake in Agree Realty by 7.1% in the 2nd quarter. State Street Corp now owns 5,764,979 shares of the real estate investment trust’s stock worth $422,629,000 after purchasing an additional 381,438 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Agree Realty by 6.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,680,417 shares of the real estate investment trust’s stock worth $205,489,000 after purchasing an additional 170,827 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Agree Realty by 5.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,780,620 shares of the real estate investment trust’s stock worth $130,092,000 after purchasing an additional 85,323 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Agree Realty by 3.4% in the second quarter. Balyasny Asset Management L.P. now owns 1,235,483 shares of the real estate investment trust’s stock valued at $90,264,000 after purchasing an additional 40,392 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Agree Realty

In other news, Director John Rakolta, Jr. acquired 25,154 shares of the company’s stock in a transaction dated Tuesday, October 7th. The stock was acquired at an average cost of $70.41 per share, with a total value of $1,771,093.14. Following the completion of the purchase, the director owned 553,700 shares of the company’s stock, valued at $38,986,017. This represents a 4.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Craig Erlich acquired 360 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was purchased 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 in the company, valued at approximately $3,743,610.64. This trade represents a 0.69% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 44,042 shares of company stock worth $3,128,478 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADC shares. Truist Financial reduced their price objective on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Royal Bank Of Canada lifted their price target on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Evercore ISI dropped their price objective on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Mizuho cut their price objective on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Finally, Barclays boosted their target price on shares of Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.32.

Agree Realty Stock Up 0.3%

Shares of ADC opened at $72.80 on Wednesday. The company’s 50-day moving average price is $73.31 and its 200 day moving average price is $72.90. Agree Realty Corporation has a 12-month low of $67.58 and a 12-month high of $79.65. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59. The firm has a market cap of $8.37 billion, a P/E ratio of 42.58, a price-to-earnings-growth ratio of 2.36 and a beta of 0.54.

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

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, December 31st. Agree Realty’s dividend payout ratio is 183.63%.

Agree Realty Company 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.