Agree Realty Co. (NYSE:ADC) Holdings Reduced by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 462,446 shares of the real estate investment trust's stock after selling 49,489 shares during the quarter. ExodusPoint Capital Management LP owned 0.45% of Agree Realty worth $32,579,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc raised its position in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 293 shares during the period. Headlands Technologies LLC raised its holdings in shares of Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 235 shares during the period. Financial Life Planners purchased a new position in Agree Realty in the 4th quarter worth approximately $44,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Agree Realty by 34.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 230 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Agree Realty during the third quarter worth $77,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ADC shares. Royal Bank of Canada dropped their price target on shares of Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. JMP Securities lowered Agree Realty from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 17th. Wells Fargo & Company increased their price target on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a report on Monday, March 10th. StockNews.com upgraded shares of Agree Realty from a "sell" rating to a "hold" rating in a research note on Sunday, February 16th. Finally, Citizens Jmp downgraded shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.38.

Agree Realty Stock Performance

ADC traded up $0.32 on Tuesday, hitting $71.70. 409,338 shares of the company's stock were exchanged, compared to its average volume of 966,713. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $74.15 and a two-hundred day moving average of $73.89. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39. The firm has a market cap of $7.70 billion, a PE ratio of 40.18, a P/E/G ratio of 2.88 and a beta of 0.55.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. On average, research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Monday, March 31st. Agree Realty's payout ratio is 170.22%.

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.