Virtus Advisers LLC Makes New $672,000 Investment in Agree Realty Corporation $ADC

Virtus Advisers LLC bought a new position in Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, Holdings Channel.com reports. The fund bought 8,879 shares of the real estate investment trust’s stock, valued at approximately $672,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ceredex Value Advisors LLC acquired a new stake in shares of Agree Realty in the 2nd quarter valued at about $10,399,000. Fairtree Asset Management Pty Ltd acquired a new position in Agree Realty in the second quarter worth about $506,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Agree Realty in the second quarter worth about $4,712,000. Pasadena Private Wealth LLC bought a new stake in Agree Realty in the second quarter valued at about $1,587,000. Finally, NewEdge Wealth LLC bought a new stake in Agree Realty in the second quarter valued at about $321,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of NYSE ADC opened at $74.45 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average price is $76.82 and its two-hundred day moving average price is $76.78. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The stock has a market capitalization of $9.26 billion, a P/E ratio of 40.03, a P/E/G ratio of 2.43 and a beta of 0.47.

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

Agree Realty Dividend Announcement

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

Insiders Place Their Bets

In related news, Chairman Richard Agree bought 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the purchase, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This represents a 5.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group initiated coverage on Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Barclays boosted their price target on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Mizuho dropped their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Citigroup raised their price objective on Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Robert W. Baird set a $83.00 price objective on shares of Agree Realty in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.94.

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.