Deutsche Bank AG Invests $104.75 Million in Agree Realty Corporation $ADC

Deutsche Bank AG purchased a new position in shares of Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, HoldingsChannel reports. The firm purchased 1,382,985 shares of the real estate investment trust’s stock, valued at approximately $104,747,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADC. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Agree Realty in the 2nd quarter worth about $7,781,000. OneDigital Investment Advisors LLC bought a new stake in shares of Agree Realty during the 2nd quarter valued at about $227,000. Global Retirement Partners LLC bought a new stake in shares of Agree Realty during the 2nd quarter valued at about $271,000. Bank of New York Mellon Corp acquired a new stake in Agree Realty during the second quarter worth approximately $68,834,000. Finally, GSA Capital Partners LLP acquired a new stake in Agree Realty during the second quarter worth approximately $7,056,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Trading Up 0.3%

Shares of Agree Realty stock opened at $74.46 on Thursday. The stock has a fifty day simple moving average of $76.83 and a 200 day simple moving average of $76.76. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The company has a market capitalization of $9.26 billion, a P/E ratio of 40.03, a price-to-earnings-growth ratio of 2.43 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The firm had revenue of $216.33 million for the quarter, compared to the consensus estimate of $204.53 million. During the same period in the previous year, the business earned $1.06 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, sell-side analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.267 per share. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 31st. Agree Realty’s dividend payout ratio is 172.04%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup lifted their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research note on Friday, April 24th. Robert W. Baird set a $83.00 target price on shares of Agree Realty in a research note on Friday, July 31st. Barclays raised their price target on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada lifted their price target on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Mizuho dropped their price objective on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.94.

Insiders Place Their Bets

In other news, Chairman Richard Agree purchased 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the purchase, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. The trade was a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

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.