Jefferies Financial Group Inc. Purchases Shares of 523,700 Agree Realty Corporation $ADC

Jefferies Financial Group Inc. acquired a new stake in Agree Realty Corporation (NYSE:ADC) during the 2nd quarter, Holdings Channel reports. The firm acquired 523,700 shares of the real estate investment trust’s stock, valued at approximately $39,665,000.

A number of other large investors also recently added to or reduced their stakes in ADC. BlackRock Inc. purchased a new stake in Agree Realty during the 2nd quarter valued at approximately $1,447,551,000. Vanguard Group Inc. lifted its holdings in shares of Agree Realty by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock worth $1,133,114,000 after buying an additional 84,568 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after acquiring an additional 649,301 shares during the last quarter. State Street Corp grew its stake in Agree Realty by 1.6% during the fourth quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock valued at $425,350,000 after acquiring an additional 91,766 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Agree Realty by 5.4% during the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock valued at $341,180,000 after acquiring an additional 232,532 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Stock Down 0.7%

Shares of NYSE ADC opened at $73.19 on Friday. 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 Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The firm’s 50-day moving average price is $76.77 and its 200-day moving average price is $76.79. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.41 and a beta of 0.47.

Agree Realty (NYSE:ADC) last released its quarterly 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). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The company had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. During the same quarter in the prior year, the business posted $1.06 EPS. The company’s revenue 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, equities research analysts anticipate that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued 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 4.4%. Agree Realty’s payout ratio is 172.04%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group began coverage on shares of Agree Realty in a research note on Monday, June 1st. They issued a “buy” rating and a $84.00 price target on the stock. Weiss Ratings raised Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Mizuho decreased their target price 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. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Huntington started coverage on Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.94.

Insider Buying and Selling at Agree Realty

In related news, Chairman Richard Agree bought 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $71.41 per share, with a total value of $357,050.00. Following the transaction, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. This trade represents a 5.85% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.