Leeward Investments LLC MA Decreases Stake in Agree Realty Corporation $ADC

Leeward Investments LLC MA cut its holdings in Agree Realty Corporation (NYSE:ADC) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 393,073 shares of the real estate investment trust’s stock after selling 11,786 shares during the quarter. Agree Realty makes up 1.5% of Leeward Investments LLC MA’s portfolio, making the stock its 6th largest position. Leeward Investments LLC MA owned 0.33% of Agree Realty worth $29,630,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised 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 purchasing an additional 1,918,427 shares during the last quarter. Norges Bank bought a new stake in shares of Agree Realty during the fourth quarter worth approximately $116,114,000. Engineers Gate Manager LP lifted its holdings in 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 buying an additional 1,144,617 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 valued at $204,813,000 after buying an additional 826,719 shares during the period. Finally, Cohen & Steers Inc. boosted its stake in Agree Realty by 4.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after acquiring an additional 649,301 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Agree Realty Trading Up 1.3%

NYSE ADC opened at $74.34 on Wednesday. The firm has a market cap of $8.93 billion, a P/E ratio of 40.18, a P/E/G ratio of 2.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50-day moving average is $75.53 and its 200-day moving average is $75.22. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08.

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

Agree Realty Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on ADC shares. Royal Bank Of Canada increased their price target on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. Citigroup upped their target price 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. BMO Capital Markets cut shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price target on the stock. in a research report on Friday, April 17th. Finally, Robert W. Baird boosted their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.80.

Insider Activity

In related news, Chairman Richard Agree acquired 5,000 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the chairman directly owned 90,512 shares in the company, valued at approximately $6,463,461.92. The trade was a 5.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joey Agree acquired 13,295 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the completion of the transaction, the chief executive officer directly owned 675,105 shares in the company, valued at $50,909,668.05. This represents a 2.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 19,191 shares of company stock worth $1,426,994 over the last quarter. 1.80% of the stock is currently owned by company insiders.

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.