Agree Realty Corporation $ADC Shares Bought by Ibex Wealth Advisors

Ibex Wealth Advisors increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,753 shares of the real estate investment trust’s stock after purchasing an additional 9,568 shares during the period. Ibex Wealth Advisors owned 0.09% of Agree Realty worth $8,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADC. Vision Capital Corp acquired a new position in Agree Realty in the fourth quarter valued at $3,920,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Agree Realty by 6,172.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock valued at $6,926,000 after purchasing an additional 99,003 shares during the last quarter. Pasadena Private Wealth LLC acquired a new position in Agree Realty in the 4th quarter valued at $1,349,000. Lasalle Investment Management Securities LLC increased its stake in shares of Agree Realty by 6.2% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock worth $48,586,000 after acquiring an additional 39,119 shares during the period. Finally, Vanguard Group Inc. increased its position in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after purchasing an additional 84,568 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Trading Down 0.2%

Agree Realty stock opened at $77.79 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 42.05, a P/E/G ratio of 2.62 and a beta of 0.47. The company has a 50 day moving average price of $75.34 and a 200 day moving average price of $75.63. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08.

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

Agree Realty Announces Dividend

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

Insider Buying and Selling at Agree Realty

In other Agree Realty news, CEO Joey Agree purchased 13,295 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the transaction, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Lehmkuhl acquired 750 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased 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 of the company’s stock, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 19,045 shares of company stock valued at $1,415,943 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADC. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Jefferies Financial Group began coverage on shares of Agree Realty in a research report on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective for the company. Raymond James Financial boosted their price objective 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. Royal Bank Of Canada raised their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, Truist Financial increased their target price on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and an average price target 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.