Louisiana State Employees Retirement System Buys New Stake in Agree Realty Corporation $ADC

Louisiana State Employees Retirement System purchased a new stake in shares of Agree Realty Corporation (NYSE:ADC) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,700 shares of the real estate investment trust’s stock, valued at approximately $2,616,000.

Other institutional investors have also bought and sold shares of the company. Jane Street Group LLC raised its position in shares of Agree Realty by 268.9% during the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock valued at $2,112,000 after buying an additional 19,948 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 356 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Agree Realty in the second quarter worth about $1,875,000. EverSource Wealth Advisors LLC increased its stake in Agree Realty by 245.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,358 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 965 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Agree Realty by 46.8% during the second quarter. First Trust Advisors LP now owns 74,203 shares of the real estate investment trust’s stock worth $5,421,000 after acquiring an additional 23,662 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ADC. Raymond James Financial raised their price objective on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a research note on Tuesday, March 17th. Robert W. Baird boosted their target price on Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group began coverage on Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price target on the stock. Barclays lowered their price target on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. Finally, Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.80.

Agree Realty Stock Down 0.0%

Shares of NYSE:ADC opened at $77.00 on Monday. The firm has a market capitalization of $9.25 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 2.59 and a beta of 0.48. The business has a 50 day simple moving average of $75.43 and a two-hundred day simple moving average of $75.28. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities analysts predict that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.267 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. Agree Realty’s dividend payout ratio is presently 172.97%.

Insider Transactions at Agree Realty

In related news, Director Greg Lehmkuhl purchased 750 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the purchase, the director owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joey Agree acquired 13,295 shares of Agree Realty stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 19,191 shares of company stock valued at $1,426,994. 1.80% of the stock is currently owned by company insiders.

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.