Thrivent Financial for Lutherans Increases Stock Position in Agree Realty Corporation $ADC

Thrivent Financial for Lutherans increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 354,570 shares of the real estate investment trust’s stock after buying an additional 11,655 shares during the period. Thrivent Financial for Lutherans’ holdings in Agree Realty were worth $25,539,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Centersquare Investment Management LLC increased its position in Agree Realty by 1.8% during the third quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust’s stock worth $205,748,000 after acquiring an additional 51,269 shares during the period. JPMorgan Chase & Co. increased its position in Agree Realty by 65.6% during the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock worth $143,268,000 after acquiring an additional 799,185 shares during the period. Strs Ohio increased its position in Agree Realty by 79.2% during the third quarter. Strs Ohio now owns 194,492 shares of the real estate investment trust’s stock worth $13,817,000 after acquiring an additional 85,935 shares during the period. AGP Franklin LLC bought a new position in Agree Realty during the third quarter worth about $1,398,000. Finally, Azzad Asset Management Inc. ADV bought a new position in Agree Realty during the third quarter worth about $971,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Trading Down 0.0%

ADC opened at $74.45 on Monday. The company’s 50 day moving average is $77.29 and its 200-day moving average is $75.12. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $8.94 billion, a P/E ratio of 40.24, a PEG ratio of 2.54 and a beta of 0.50.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same period last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Equities research analysts predict that Agree Realty Corporation will post 4.44 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a $0.267 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, May 29th. Agree Realty’s dividend payout ratio (DPR) is presently 172.97%.

Wall Street Analyst Weigh In

ADC has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Robert W. Baird raised their target price on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Barclays raised their target price on shares of Agree Realty from $81.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. BMO Capital Markets lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a report on Friday, April 17th. Finally, Truist Financial raised their target price on shares of Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.