Systematic Financial Management LP lifted its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,744 shares of the real estate investment trust's stock after buying an additional 26,876 shares during the quarter. Systematic Financial Management LP owned approximately 0.30% of Agree Realty worth $23,634,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MCF Advisors LLC bought a new position in Agree Realty in the 2nd quarter worth about $26,000. Massmutual Trust Co. FSB ADV boosted its stake in Agree Realty by 248.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 442 shares in the last quarter. Headlands Technologies LLC boosted its stake in Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 798 shares in the last quarter. UMB Bank n.a. boosted its stake in Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust's stock worth $73,000 after purchasing an additional 299 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in Agree Realty in the 3rd quarter worth about $75,000. 97.83% of the stock is owned by hedge funds and other institutional investors.
Agree Realty Price Performance
Shares of NYSE ADC traded down $0.42 during midday trading on Thursday, reaching $75.10. 400,157 shares of the stock traded hands, compared to its average volume of 952,571. 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 $7.77 billion, a PE ratio of 41.72, a P/E/G ratio of 3.67 and a beta of 0.62. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. The company's 50 day moving average is $75.30 and its 200 day moving average is $70.12.
Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.61). The business had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The firm's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 earnings per share. On average, equities research analysts anticipate that Agree Realty Co. will post 4.12 earnings per share for the current year.
Agree Realty Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.253 dividend. This represents a $3.04 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty's dividend payout ratio is presently 167.96%.
Wall Street Analysts Forecast Growth
ADC has been the topic of a number of analyst reports. UBS Group upped their price target on shares of Agree Realty from $77.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. StockNews.com raised shares of Agree Realty from a "sell" rating to a "hold" rating in a research report on Friday, November 22nd. Raymond James upped their price target on shares of Agree Realty from $70.00 to $81.00 and gave the company a "strong-buy" rating in a research report on Wednesday, August 21st. Wells Fargo & Company reduced their target price on shares of Agree Realty from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Finally, Royal Bank of Canada increased their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Agree Realty has an average rating of "Moderate Buy" and an average price target of $76.04.
Get Our Latest Research Report on ADC
Agree Realty Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Agree Realty, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Agree Realty wasn't on the list.
While Agree Realty currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
