Centersquare Investment Management LLC Boosts Stock Holdings in Agree Realty Corporation $ADC

Centersquare Investment Management LLC grew its stake in Agree Realty Corporation (NYSE:ADC) by 13.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,299,172 shares of the real estate investment trust’s stock after purchasing an additional 402,943 shares during the period. Agree Realty makes up about 2.3% of Centersquare Investment Management LLC’s holdings, making the stock its 14th largest holding. Centersquare Investment Management LLC owned approximately 2.87% of Agree Realty worth $237,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Agree Realty by 65.6% in the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock valued at $143,268,000 after purchasing an additional 799,185 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Agree Realty by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after acquiring an additional 84,568 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Agree Realty by 7.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 727,114 shares of the real estate investment trust’s stock valued at $52,374,000 after acquiring an additional 48,130 shares during the last quarter. Lasalle Investment Management Securities LLC lifted its holdings in Agree Realty by 6.2% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock valued at $48,586,000 after acquiring an additional 39,119 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Agree Realty by 29.3% in the third quarter. Schroder Investment Management Group now owns 326,453 shares of the real estate investment trust’s stock valued at $22,941,000 after acquiring an additional 73,894 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl purchased 750 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the purchase, the director directly owned 34,465 shares in the company, valued at approximately $2,587,976.85. This represents a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard Agree purchased 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the purchase, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, 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 Stock Down 0.8%

Agree Realty stock opened at $74.94 on Friday. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08. The stock’s fifty day simple moving average is $75.96 and its 200-day simple moving average is $75.26. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.00 billion, a P/E ratio of 40.51, a P/E/G ratio of 2.54 and a beta of 0.48.

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

Agree Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.267 per share. The ex-dividend date of this dividend 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 currently 172.97%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ADC shares. Jefferies Financial Group started coverage on Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective on the stock. Mizuho decreased their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley set a $81.00 price objective on Agree Realty in a report on Tuesday, April 21st. Barclays decreased their price objective on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 19th. Finally, Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.80.

About Agree Realty

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.