Liberty One Investment Management LLC Takes $11.04 Million Position in Agree Realty Corporation $ADC

Liberty One Investment Management LLC bought a new position in Agree Realty Corporation (NYSE:ADC) in the third quarter, Holdings Channel.com reports. The firm bought 155,287 shares of the real estate investment trust’s stock, valued at approximately $11,038,000. Agree Realty comprises about 0.6% of Liberty One Investment Management LLC’s holdings, making the stock its 29th largest position.

Other large investors have also added to or reduced their stakes in the company. CPC Advisors LLC acquired a new position in Agree Realty during the third quarter valued at $1,122,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Agree Realty by 85.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 678,984 shares of the real estate investment trust’s stock valued at $48,235,000 after buying an additional 313,431 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Agree Realty by 16.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,086 shares of the real estate investment trust’s stock worth $1,924,000 after buying an additional 3,760 shares during the last quarter. Citizens National Bank Trust Department boosted its stake in shares of Agree Realty by 21.6% in the third quarter. Citizens National Bank Trust Department now owns 23,610 shares of the real estate investment trust’s stock worth $1,677,000 after buying an additional 4,194 shares during the last quarter. Finally, Tributary Capital Management LLC grew its holdings in Agree Realty by 19.5% during the third quarter. Tributary Capital Management LLC now owns 21,328 shares of the real estate investment trust’s stock worth $1,515,000 after acquiring an additional 3,473 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Transactions at Agree Realty

In related news, Chairman Richard Agree acquired 24,000 shares of Agree Realty stock in a transaction that occurred on Friday, January 9th. The shares were purchased at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the transaction, the chairman owned 159,855 shares in the company, valued at $11,296,952.85. This represents a 17.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Rakolta, Jr. acquired 15,000 shares of the stock in a transaction on Wednesday, December 24th. The shares were bought at an average cost of $72.18 per share, for a total transaction of $1,082,700.00. Following the purchase, the director directly owned 562,606 shares of the company’s stock, valued at $40,608,901.08. The trade was a 2.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.80% of the stock is currently owned by corporate insiders.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $71.35 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.68 and a quick ratio of 0.68. Agree Realty Corporation has a 1 year low of $68.10 and a 1 year high of $79.65. The firm has a market capitalization of $8.20 billion, a PE ratio of 41.73, a P/E/G ratio of 2.19 and a beta of 0.55. The business’s 50 day moving average price is $72.82 and its 200-day moving average price is $72.70.

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

Agree Realty Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank Of Canada decreased their price target on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Evercore ISI decreased their target price on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Truist Financial dropped their price target on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and an average price target of $80.23.

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.