Knights of Columbus Asset Advisors LLC Invests $1.53 Million in Agree Realty Corporation $ADC

Knights of Columbus Asset Advisors LLC bought a new stake in Agree Realty Corporation (NYSE:ADC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,286 shares of the real estate investment trust’s stock, valued at approximately $1,533,000.

A number of other institutional investors have also made changes to their positions in ADC. AlphaQuest LLC grew its holdings in Agree Realty by 1,832.4% during the 4th quarter. AlphaQuest LLC now owns 49,856 shares of the real estate investment trust’s stock worth $3,591,000 after acquiring an additional 47,276 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Agree Realty by 13,885.1% during the fourth quarter. Harbour Investments Inc. now owns 9,370 shares of the real estate investment trust’s stock worth $675,000 after purchasing an additional 9,303 shares in the last quarter. Allstate Corp lifted its position in shares of Agree Realty by 9.2% during the fourth quarter. Allstate Corp now owns 9,563 shares of the real estate investment trust’s stock worth $689,000 after purchasing an additional 807 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 242 shares during the last quarter. Finally, Clearstead Advisors LLC grew its stake in shares of Agree Realty by 163.8% during the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 285 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Joey Agree purchased 13,295 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $75.41 per share, with a total value of $1,002,575.95. Following the purchase, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. The trade was a 2.01% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Greg Lehmkuhl acquired 750 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the purchase, the director directly owned 34,465 shares in the company, valued at $2,587,976.85. The trade was a 2.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 14,191 shares of company stock valued at $1,069,944 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADC shares. Stifel Nicolaus upped their price objective on Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Barclays cut their price target on Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 19th. Citigroup raised their price target on Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a report on Friday, April 24th. Robert W. Baird lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.79.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $74.50 on Friday. The firm has a fifty day moving average of $76.41 and a two-hundred day moving average of $75.28. 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 stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.52 and a beta of 0.50. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The firm’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities research analysts predict that Agree Realty Corporation will post 4.44 EPS for the current year.

Agree Realty Announces Dividend

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