Hazelview Securities Inc. Has $21.79 Million Stock Holdings in Agree Realty Corporation $ADC

Hazelview Securities Inc. grew its holdings in Agree Realty Corporation (NYSE:ADC) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,233 shares of the real estate investment trust’s stock after acquiring an additional 18,534 shares during the period. Agree Realty accounts for approximately 3.9% of Hazelview Securities Inc.’s holdings, making the stock its 12th largest position. Hazelview Securities Inc. owned about 0.28% of Agree Realty worth $21,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADC. Westwood Holdings Group Inc. bought a new stake in Agree Realty in the second quarter worth $65,376,000. Norges Bank acquired a new stake in shares of Agree Realty in the second quarter worth about $65,030,000. Wellington Management Group LLP boosted its stake in shares of Agree Realty by 72.1% during the 1st quarter. Wellington Management Group LLP now owns 1,016,593 shares of the real estate investment trust’s stock worth $78,471,000 after acquiring an additional 425,748 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Agree Realty by 98.7% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 821,090 shares of the real estate investment trust’s stock worth $63,380,000 after acquiring an additional 407,820 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Agree Realty by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 15,316,681 shares of the real estate investment trust’s stock valued at $1,119,037,000 after acquiring an additional 403,048 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling

In other Agree Realty news, Director John Rakolta, Jr. purchased 25,154 shares of the firm’s stock in a transaction on Tuesday, October 7th. The shares were purchased at an average price of $70.41 per share, for a total transaction of $1,771,093.14. Following the completion of the purchase, the director directly owned 553,700 shares of the company’s stock, valued at approximately $38,986,017. This represents a 4.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Erlich purchased 360 shares of the stock in a transaction on Friday, October 3rd. The stock was acquired at an average cost 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 29,042 shares of company stock valued at $2,045,778 over the last ninety days. 1.80% of the stock is owned by company insiders.

Agree Realty Stock Up 0.7%

Shares of ADC opened at $71.75 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. The company has a 50-day simple moving average of $73.45 and a 200-day simple moving average of $73.14. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65. The firm has a market capitalization of $8.25 billion, a P/E ratio of 41.96, a P/E/G ratio of 2.32 and a beta of 0.54.

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

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.262 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, December 31st. Agree Realty’s dividend payout ratio is presently 183.63%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADC. Barclays boosted their target price on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Truist Financial decreased their price objective on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a report on Friday, October 24th. Evercore ISI raised their target price on shares of Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price target on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.68.

Agree Realty Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.