Agree Realty Corporation $ADC Shares Purchased by Cohen & Steers Inc.

Cohen & Steers Inc. boosted its holdings in Agree Realty Corporation (NYSE:ADC) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,094,952 shares of the real estate investment trust’s stock after buying an additional 649,301 shares during the quarter. Agree Realty accounts for about 1.8% of Cohen & Steers Inc.’s investment portfolio, making the stock its 16th largest position. Cohen & Steers Inc. owned approximately 0.12% of Agree Realty worth $1,015,324,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADC. Principal Financial Group Inc. grew its position in Agree Realty by 80.8% during 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 purchasing an additional 1,918,427 shares in the last quarter. Norges Bank purchased a new position in Agree Realty during the 4th quarter worth approximately $116,114,000. JPMorgan Chase & Co. grew its position in Agree Realty by 41.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock worth $204,813,000 after purchasing an additional 826,719 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Agree Realty by 311.0% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 838,570 shares of the real estate investment trust’s stock worth $59,572,000 after purchasing an additional 634,520 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Agree Realty by 532.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 714,772 shares of the real estate investment trust’s stock worth $50,777,000 after purchasing an additional 601,689 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Trading Up 1.3%

Shares of NYSE:ADC opened at $75.74 on Friday. The firm has a fifty day moving average of $75.96 and a two-hundred day moving average of $75.27. The firm has a market capitalization of $9.10 billion, a P/E ratio of 40.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.48. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. 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 earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. On average, equities analysts expect that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, June 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.4%. Agree Realty’s dividend payout ratio (DPR) is 172.97%.

Insider Buying and Selling at Agree Realty

In related news, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought 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 of the company’s stock, valued at approximately $2,587,976.85. This represents a 2.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard Agree bought 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 purchase, the chairman directly owned 90,512 shares in the company, valued at approximately $6,463,461.92. This trade represents a 5.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 19,191 shares of company stock valued at $1,426,994 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ADC. Citigroup lifted their price objective on shares of Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Truist Financial lifted their price objective 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. BMO Capital Markets cut shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a research report on Friday, April 17th. Barclays lowered their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 19th. Finally, Robert W. Baird lifted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Agree Realty has an average rating of “Moderate Buy” and a consensus target price of $83.80.

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.