Strs Ohio Has $18.63 Million Stock Position in Agree Realty Corporation $ADC

Strs Ohio grew its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 247,109 shares of the real estate investment trust’s stock after acquiring an additional 12,496 shares during the period. Strs Ohio owned about 0.21% of Agree Realty worth $18,627,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

ADC has been the topic of a number of recent analyst reports. Weiss Ratings raised Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. Royal Bank Of Canada increased their target price on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Raymond James Financial raised their price target on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 17th. Morgan Stanley set a $81.00 price target on shares of Agree Realty in a research report on Tuesday, April 21st. Finally, Citigroup upped their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and an average target price of $83.80.

Agree Realty Stock Down 0.1%

Shares of NYSE:ADC opened at $77.75 on Friday. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 42.03, a P/E/G ratio of 2.61 and a beta of 0.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average is $75.24 and its 200-day moving average is $75.44. Agree Realty Corporation has a 1 year low of $69.56 and a 1 year high of $82.08.

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

Agree Realty Dividend Announcement

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 annualized dividend and a dividend yield of 1.4%. Agree Realty’s dividend payout ratio (DPR) is 172.97%.

Insider Transactions at Agree Realty

In related news, Chairman Richard Agree acquired 5,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the purchase, the chairman directly owned 90,512 shares of the company’s stock, valued at $6,463,461.92. The trade was a 5.85% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joey Agree bought 13,295 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 19,045 shares of company stock valued at $1,415,943 in the last quarter. 1.80% of the stock is currently owned by company insiders.

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.