Sumitomo Mitsui Trust Group Inc. Grows Position in Agree Realty Corporation $ADC

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Agree Realty Corporation (NYSE:ADC) by 7.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 781,592 shares of the real estate investment trust’s stock after purchasing an additional 54,478 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Agree Realty were worth $58,916,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Trust LLC raised its stake in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 242 shares during the period. Wiser Advisor Group LLC purchased a new position in shares of Agree Realty during the 3rd quarter valued at about $32,000. Creative Financial Designs Inc. ADV grew 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 acquiring an additional 192 shares during the period. Clearstead Advisors LLC grew 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 acquiring an additional 285 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in Agree Realty by 178.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling at Agree Realty

In other news, Director Greg Lehmkuhl acquired 750 shares of Agree Realty stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $75.09 per share, with a total value of $56,317.50. Following the purchase, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard Agree acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the acquisition, the chairman directly owned 90,512 shares in the company, valued at approximately $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 19,045 shares of company stock worth $1,415,943 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Agree Realty Price Performance

ADC stock traded up $0.02 during mid-day trading on Friday, hitting $77.87. The company had a trading volume of 971,695 shares, compared to its average volume of 1,096,901. The company has a 50-day moving average price of $75.37 and a 200 day moving average price of $75.65. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 42.09, a P/E/G ratio of 2.59 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same quarter last year, the business posted $0.42 earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, research analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley set a $81.00 target price on shares of Agree Realty in a research note on Tuesday, April 21st. Mizuho dropped their price target on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Truist Financial increased their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Citigroup raised their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, BMO Capital Markets cut shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.80.

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.