Truist Financial Corp Cuts Holdings in Agree Realty Corporation $ADC

Truist Financial Corp lessened its stake in Agree Realty Corporation (NYSE:ADC) by 58.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,320 shares of the real estate investment trust’s stock after selling 28,706 shares during the period. Truist Financial Corp’s holdings in Agree Realty were worth $1,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADC. Westside Investment Management Inc. grew its stake in Agree Realty by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 215 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in Agree Realty in the 3rd quarter worth approximately $32,000. Cornerstone Planning Group LLC grew its stake in Agree Realty by 1,513.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 454 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake 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 buying an additional 350 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in 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 buying an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

ADC has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research note on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, BMO Capital Markets cut shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective for the company. in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Agree Realty Trading Down 1.1%

Shares of ADC opened at $74.45 on Friday. The stock has a market capitalization of $8.94 billion, a P/E ratio of 40.24, a PEG ratio of 2.57 and a beta of 0.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $77.29 and a two-hundred day simple moving average of $75.12. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. 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 4.44 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.267 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.07 annualized dividend and a yield of 1.4%. Agree Realty’s dividend payout ratio is presently 172.97%.

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.