Daiwa Securities Group Inc. Has $171.47 Million Holdings in Agree Realty Corporation $ADC

Daiwa Securities Group Inc. cut its position in Agree Realty Corporation (NYSE:ADC) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,347,007 shares of the real estate investment trust’s stock after selling 11,972 shares during the quarter. Daiwa Securities Group Inc. owned about 2.12% of Agree Realty worth $171,472,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its stake in Agree Realty by 5.5% in the first quarter. Evergreen Capital Management LLC now owns 4,441 shares of the real estate investment trust’s stock valued at $344,000 after acquiring an additional 232 shares during the last quarter. Securian Asset Management Inc. raised its holdings in shares of Agree Realty by 2.9% in the 2nd quarter. Securian Asset Management Inc. now owns 8,362 shares of the real estate investment trust’s stock valued at $611,000 after purchasing an additional 233 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Agree Realty by 1.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 21,320 shares of the real estate investment trust’s stock valued at $1,558,000 after purchasing an additional 261 shares during the last quarter. Allworth Financial LP grew its holdings in Agree Realty by 41.7% during the second quarter. Allworth Financial LP now owns 891 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 262 shares during the period. Finally, Friedenthal Financial increased its position in Agree Realty by 2.4% during the second quarter. Friedenthal Financial now owns 11,894 shares of the real estate investment trust’s stock worth $869,000 after buying an additional 278 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Agree Realty

In related news, CEO Joey Agree bought 3,528 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was purchased at an average cost of $70.63 per share, for a total transaction of $249,182.64. Following the transaction, the chief executive officer owned 638,688 shares in the company, valued at $45,110,533.44. The trade was a 0.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Erlich bought 360 shares of Agree Realty stock in a transaction dated Friday, October 3rd. The shares were bought at an average cost of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the acquisition, the insider owned 52,846 shares in the company, valued at $3,743,610.64. This represents a 0.69% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 29,042 shares of company stock worth $2,045,778. Company insiders own 1.80% of the company’s stock.

Agree Realty Stock Down 1.6%

ADC opened at $72.71 on Tuesday. The stock has a fifty day moving average of $73.42 and a 200-day moving average of $73.21. The company has a market capitalization of $8.36 billion, a P/E ratio of 42.52, a P/E/G ratio of 2.40 and a beta of 0.54. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The business had revenue of $183.22 million for the quarter, compared to the consensus estimate of $181.87 million. During the same period in the prior year, the company posted $1.03 earnings per share. Agree Realty’s revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, equities analysts expect that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a $0.262 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, November 28th. Agree Realty’s payout ratio is presently 183.63%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADC. Wells Fargo & Company raised their price objective on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Truist Financial cut their price target on Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a report on Friday, October 24th. Mizuho reduced their price objective on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Evercore ISI increased their price objective on shares of Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Finally, KeyCorp lifted their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.29.

Agree Realty Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.