OVERSEA CHINESE BANKING Corp Ltd Invests $4.71 Million in Agree Realty Corporation $ADC

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 62,214 shares of the real estate investment trust’s stock, valued at approximately $4,712,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC boosted its holdings in Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 242 shares during the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Agree Realty during the 3rd quarter valued at about $32,000. Clearstead Advisors LLC raised its stake in shares of Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 285 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 192 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Agree Realty by 214.4% in the 4th quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 373 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADC has been the topic of a number of recent research reports. Jefferies Financial Group assumed coverage on Agree Realty in a research note on Monday, June 1st. They issued a “buy” rating and a $84.00 target price on the stock. Robert W. Baird set a $83.00 price target on Agree Realty in a research report on Friday, July 31st. Mizuho decreased their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Huntington assumed coverage on Agree Realty in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 price objective on the stock. Finally, Citigroup raised their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.94.

Agree Realty Trading Up 0.1%

ADC stock opened at $74.45 on Friday. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. 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 has a market cap of $9.26 billion, a P/E ratio of 40.03, a PEG ratio of 2.43 and a beta of 0.47. The company’s 50-day simple moving average is $76.82 and its 200-day simple moving average is $76.78.

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

Agree Realty Dividend Announcement

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

Insider Activity at Agree Realty

In other Agree Realty news, Chairman Richard Agree bought 5,000 shares of Agree Realty stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $71.41 per share, with a total value of $357,050.00. Following the purchase, the chairman directly owned 90,512 shares in the company, valued at $6,463,461.92. This represents a 5.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

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.