Agree Realty Corporation $ADC Shares Sold by Oak Thistle LLC

Oak Thistle LLC trimmed its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 79.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,579 shares of the real estate investment trust’s stock after selling 13,527 shares during the quarter. Oak Thistle LLC’s holdings in Agree Realty were worth $254,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Agree Realty by 408.0% during the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 306 shares during the period. SVB Wealth LLC acquired a new position in shares of Agree Realty in the 1st quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 356 shares during the last quarter. Allworth Financial LP boosted its position in shares of Agree Realty by 41.7% during the 2nd 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, MAI Capital Management increased its holdings in Agree Realty by 122.3% in the 2nd quarter. MAI Capital Management now owns 907 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 499 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Ratings Changes

ADC has been the topic of a number of research reports. Evercore ISI decreased their price target on Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Truist Financial decreased their target price on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Mizuho lowered their target price on Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays boosted their price target on shares of Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 3rd. Finally, Stifel Nicolaus set a $83.50 price objective on shares of Agree Realty in a research note on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and a consensus price target of $80.32.

Insider Buying and Selling

In other Agree Realty news, CEO Joey Agree bought 3,528 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were purchased at an average price of $70.63 per share, with a total value of $249,182.64. Following the completion of the acquisition, the chief executive officer directly owned 638,688 shares of the company’s stock, valued at $45,110,533.44. This represents a 0.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Erlich purchased 360 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was acquired at an average price of $70.84 per share, for a total transaction of $25,502.40. Following the completion of the purchase, the insider owned 52,846 shares of the company’s stock, valued at $3,743,610.64. This represents a 0.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 29,042 shares of company stock worth $2,045,778. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $72.30 on Friday. The business has a 50-day simple moving average of $73.57 and a 200-day simple moving average of $73.01. 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 Corporation has a one year low of $67.58 and a one year high of $79.65. The company has a market cap of $8.31 billion, a PE ratio of 42.28, a P/E/G ratio of 2.35 and a beta of 0.54.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share 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 firm had revenue of $183.22 million for the quarter, compared to analysts’ expectations of $181.87 million. During the same quarter last year, the company earned $1.03 earnings per share. The firm’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 research analysts forecast that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.262 per share. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Agree Realty’s payout ratio is 183.63%.

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.