Lmcg Investments LLC Increases Holdings in Agree Realty Corporation $ADC

Lmcg Investments LLC grew its stake in shares of Agree Realty Corporation (NYSE:ADC) by 26.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,456 shares of the real estate investment trust’s stock after buying an additional 22,063 shares during the quarter. Lmcg Investments LLC owned 0.09% of Agree Realty worth $7,563,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of Agree Realty by 4.4% during the second quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust’s stock worth $2,340,000 after purchasing an additional 1,351 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Agree Realty by 33.5% during the 2nd quarter. Fifth Third Bancorp now owns 6,030 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 1,512 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Agree Realty by 408.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 306 shares during the period. Jump Financial LLC grew its stake in Agree Realty by 169.9% in the 2nd quarter. Jump Financial LLC now owns 208,252 shares of the real estate investment trust’s stock worth $15,215,000 after acquiring an additional 131,100 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Agree Realty in the 2nd quarter valued at about $1,414,000. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADC. Wells Fargo & Company upped their target price on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada reduced their price objective on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Barclays upped their target price on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 3rd. Evercore ISI cut their price target on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Finally, Mizuho reduced their price target on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.23.

Insider Buying and Selling at Agree Realty

In related news, Director John Rakolta, Jr. purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were purchased at an average price of $72.18 per share, with a total value of $1,082,700.00. Following the completion of the acquisition, the director directly owned 562,606 shares in the company, valued at $40,608,901.08. This represents a 2.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard Agree acquired 24,000 shares of Agree Realty stock in a transaction that occurred on Friday, January 9th. The stock was bought at an average price of $70.67 per share, with a total value of $1,696,080.00. Following the purchase, the chairman directly owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 39,500 shares of company stock worth $2,813,680 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Trading Up 1.7%

Shares of Agree Realty stock opened at $73.23 on Friday. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 42.82, a PEG ratio of 2.27 and a beta of 0.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. Agree Realty Corporation has a fifty-two week low of $68.98 and a fifty-two week high of $79.65. The stock has a 50 day moving average of $72.78 and a 200 day moving average of $72.68.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, topping 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 analysts’ expectations of $181.87 million. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, research analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.262 per share. The ex-dividend date is Friday, January 30th. This represents a c) annualized dividend and a yield of 4.3%. Agree Realty’s payout ratio is presently 183.63%.

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.