Westpac Banking Corp Takes Position in Agree Realty Corporation $ADC

Westpac Banking Corp bought a new position in shares of Agree Realty Corporation (NYSE:ADC) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 25,768 shares of the real estate investment trust’s stock, valued at approximately $1,952,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC increased its position 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 purchasing an additional 242 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Agree Realty in the third quarter valued at about $32,000. Clearstead Advisors LLC lifted its position 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 buying an additional 285 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake 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 worth $33,000 after buying an additional 192 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its stake 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 worth $40,000 after buying an additional 373 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADC shares. Citigroup boosted their price target on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research note on Friday, April 24th. Jefferies Financial Group initiated coverage on shares of Agree Realty in a report on Monday, June 1st. They issued a “buy” rating and a $84.00 target price for the company. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Huntington began coverage on Agree Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price target on the stock. Finally, Barclays raised their target price on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.94.

Agree Realty Trading Down 0.7%

NYSE:ADC opened at $73.95 on Friday. Agree Realty Corporation has a 12-month low of $69.56 and a 12-month high of $82.08. The firm has a market cap of $9.20 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 2.43 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $76.78 and a 200 day moving average price of $76.76.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The company had revenue of $216.33 million during the quarter, compared to analyst estimates of $204.53 million. During the same period in the prior year, the business earned $1.06 EPS. Agree Realty’s revenue for the quarter was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Sell-side analysts anticipate that Agree Realty Corporation will post 4.45 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Insider Activity at Agree Realty

In other news, Chairman Richard Agree acquired 5,000 shares of Agree Realty stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $71.41 per share, for a total transaction of $357,050.00. Following 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 can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.