Landscape Capital Management L.L.C. Takes Position in Agree Realty Corporation $ADC

Landscape Capital Management L.L.C. bought a new stake in Agree Realty Corporation (NYSE:ADC) during the fourth quarter, HoldingsChannel reports. The firm bought 23,737 shares of the real estate investment trust’s stock, valued at approximately $1,710,000.

A number of other institutional investors have also modified their holdings of the stock. Entropy Technologies LP acquired a new stake in shares of Agree Realty in the 4th quarter valued at about $2,137,000. Aptus Capital Advisors LLC grew its position in shares of Agree Realty by 0.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 91,561 shares of the real estate investment trust’s stock valued at $6,595,000 after buying an additional 370 shares during the last quarter. Transamerica Financial Advisors LLC grew its position in shares of Agree Realty by 214.4% during the 4th quarter. Transamerica Financial Advisors LLC now owns 547 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 373 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Agree Realty during the 4th quarter valued at about $1,213,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Agree Realty by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 88,173 shares of the real estate investment trust’s stock valued at $6,351,000 after buying an additional 834 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joey Agree bought 13,295 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the transaction, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard Agree bought 5,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was purchased at an average price of $71.41 per share, with a total value of $357,050.00. Following the transaction, the chairman owned 90,512 shares in the company, valued at $6,463,461.92. The trade was a 5.85% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 19,191 shares of company stock worth $1,426,994. Insiders own 1.80% of the company’s stock.

Agree Realty Price Performance

NYSE ADC opened at $74.38 on Tuesday. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 2.55 and a beta of 0.48. The company has a 50-day moving average price of $75.91 and a two-hundred day moving average price of $75.27.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. During the same quarter in the prior year, the firm earned $0.42 EPS. Agree Realty’s quarterly revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ADC shares. Citigroup boosted 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. Mizuho lowered their price objective 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. BMO Capital Markets downgraded 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 report on Friday, April 17th. Weiss Ratings raised shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 6th. Finally, Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Agree Realty currently 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.