GSA Capital Partners LLP Purchases 10,404 Shares of Agree Realty Co. (NYSE:ADC)

GSA Capital Partners LLP boosted its position in Agree Realty Co. (NYSE:ADC - Free Report) by 238.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,768 shares of the real estate investment trust's stock after acquiring an additional 10,404 shares during the period. GSA Capital Partners LLP's holdings in Agree Realty were worth $1,112,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADC. Janney Montgomery Scott LLC increased its holdings in Agree Realty by 126.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,100 shares of the real estate investment trust's stock valued at $520,000 after purchasing an additional 5,087 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Agree Realty by 32.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 9,547 shares of the real estate investment trust's stock valued at $545,000 after acquiring an additional 2,324 shares in the last quarter. Swiss National Bank lifted its stake in Agree Realty by 4.6% in the first quarter. Swiss National Bank now owns 198,382 shares of the real estate investment trust's stock worth $11,332,000 after acquiring an additional 8,700 shares during the period. US Bancorp DE boosted its holdings in Agree Realty by 4.8% in the first quarter. US Bancorp DE now owns 16,265 shares of the real estate investment trust's stock valued at $929,000 after acquiring an additional 749 shares in the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in Agree Realty during the 1st quarter valued at $385,000. Institutional investors own 97.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADC shares. Robert W. Baird raised their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Raymond James boosted their target price on shares of Agree Realty from $70.00 to $81.00 and gave the company a "strong-buy" rating in a report on Wednesday, August 21st. BTIG Research lifted their price target on shares of Agree Realty from $65.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Stifel Nicolaus raised their price objective on Agree Realty from $67.50 to $71.50 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Finally, KeyCorp upped their price target on shares of Agree Realty from $68.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $75.73.

Agree Realty Stock Performance

Shares of ADC traded up $0.36 on Friday, reaching $75.96. The company's stock had a trading volume of 626,013 shares, compared to its average volume of 970,316. The stock's 50 day simple moving average is $75.03 and its two-hundred day simple moving average is $68.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $7.86 billion, a P/E ratio of 41.96, a PEG ratio of 3.11 and a beta of 0.61. Agree Realty Co. has a 12-month low of $54.28 and a 12-month high of $77.47.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.61). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. During the same period in the previous year, the firm earned $1.00 EPS. The company's revenue was up 12.8% on a year-over-year basis. Research analysts forecast that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.00%. Agree Realty's payout ratio is currently 167.96%.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.