Hsbc Holdings PLC Has $21.30 Million Stock Holdings in Agree Realty Corporation $ADC

Hsbc Holdings PLC boosted its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,693 shares of the real estate investment trust’s stock after purchasing an additional 60,159 shares during the quarter. Hsbc Holdings PLC’s holdings in Agree Realty were worth $21,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in Agree Realty by 80.8% in the 4th quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock worth $309,266,000 after buying an additional 1,918,427 shares during the period. Norges Bank bought a new stake in shares of Agree Realty in the fourth quarter valued at approximately $116,114,000. Engineers Gate Manager LP boosted its position in shares of Agree Realty by 3,043.2% in the fourth quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after acquiring an additional 1,144,617 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Agree Realty by 41.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock worth $204,813,000 after acquiring an additional 826,719 shares during the last quarter. Finally, Cohen & Steers Inc. increased its position in Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after acquiring an additional 649,301 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Richard Agree acquired 5,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $71.41 per share, with a total value of $357,050.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joey Agree acquired 13,295 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the purchase, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 19,191 shares of company stock worth $1,426,994 over the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James Financial upped their target price on shares of Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a research note on Tuesday, March 17th. Truist Financial raised their price target on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Jefferies Financial Group initiated coverage on shares of Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Morgan Stanley set a $81.00 target price on shares of Agree Realty in a research note 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 company. According to MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and an average target price of $83.80.

Agree Realty Trading Up 1.4%

Shares of ADC stock opened at $75.39 on Thursday. Agree Realty Corporation has a 52-week low of $69.56 and a 52-week high of $82.08. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 2.50 and a beta of 0.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day moving average of $75.49 and a 200-day moving average of $75.23.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter 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, equities research analysts forecast that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Agree Realty 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.