William Blair Investment Management LLC Makes New Investment in Agree Realty Corporation $ADC

William Blair Investment Management LLC bought a new stake in Agree Realty Corporation (NYSE:ADC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 209,954 shares of the real estate investment trust’s stock, valued at approximately $15,902,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearstead Trust LLC lifted its holdings in shares of Agree Realty by 192.1% during the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 242 shares during the period. Wiser Advisor Group LLC bought a new position in Agree Realty in the third quarter valued at approximately $32,000. Clearstead Advisors LLC increased its stake in Agree Realty by 163.8% in the fourth 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 last quarter. Creative Financial Designs Inc. ADV raised its position in Agree Realty by 71.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 192 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its position in Agree Realty by 214.4% during the fourth quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 373 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADC has been the topic of a number of research analyst reports. Huntington started coverage on Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 target price on the stock. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings downgraded Agree Realty from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group started coverage on Agree Realty in a research note on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective on the stock. Finally, Barclays lifted their target price on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $83.94.

Insider Transactions at Agree Realty

In other news, Chairman Richard Agree bought 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was purchased at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $73.95 on Friday. The company’s 50 day moving average price is $76.78 and its two-hundred day moving average price is $76.76. The firm has a market capitalization of $9.20 billion, a P/E ratio of 39.76, a P/E/G ratio of 2.42 and a beta of 0.47. Agree Realty Corporation has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.82 and a quick ratio of 0.82.

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 (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 for the quarter, compared to analyst estimates of $204.53 million. During the same quarter last year, the company posted $1.06 earnings per share. The firm’s quarterly 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 analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

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

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.