GW&K Investment Management LLC Decreases Holdings in Agree Realty Corporation $ADC

GW&K Investment Management LLC cut its stake in shares of Agree Realty Corporation (NYSE:ADC) by 7.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 906,544 shares of the real estate investment trust’s stock after selling 71,932 shares during the quarter. GW&K Investment Management LLC’s holdings in Agree Realty were worth $65,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after buying an additional 84,568 shares during the last quarter. State Street Corp raised its stake in Agree Realty by 0.5% during the 3rd quarter. State Street Corp now owns 5,792,525 shares of the real estate investment trust’s stock valued at $412,954,000 after buying an additional 27,546 shares during the last quarter. Principal Financial Group Inc. raised its stake in Agree Realty by 80.8% during the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock valued at $309,266,000 after buying an additional 1,918,427 shares during the last quarter. Centersquare Investment Management LLC raised its stake in Agree Realty by 1.8% during the 3rd quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust’s stock valued at $205,748,000 after buying an additional 51,269 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Agree Realty by 41.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock valued at $204,813,000 after acquiring an additional 826,719 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADC. BMO Capital Markets downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective for the company. in a research report on Friday, April 17th. Truist Financial boosted their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Robert W. Baird boosted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Barclays cut their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. Finally, Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.80.

Agree Realty Trading Up 1.7%

Shares of Agree Realty stock opened at $74.49 on Wednesday. The company has a market capitalization of $8.95 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average of $75.96 and a 200 day moving average of $75.25. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08.

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

Agree Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.267 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty’s dividend payout ratio is currently 172.97%.

Insider Buying and Selling

In other news, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $75.09 per share, with a total value of $56,317.50. Following the acquisition, the director owned 34,465 shares of the company’s stock, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard Agree bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $71.41 per share, with a total value of $357,050.00. Following the acquisition, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 19,191 shares of company stock valued at $1,426,994. Company insiders own 1.80% of the company’s stock.

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.