Agree Realty Co. (NYSE:ADC) Stock Holdings Reduced by XTX Topco Ltd

XTX Topco Ltd cut its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 33.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,912 shares of the real estate investment trust's stock after selling 4,053 shares during the period. XTX Topco Ltd's holdings in Agree Realty were worth $557,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADC. Vanguard Group Inc. boosted its stake in shares of Agree Realty by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock worth $1,025,044,000 after acquiring an additional 219,806 shares in the last quarter. Cohen & Steers Inc. grew its holdings in Agree Realty by 43.0% during the fourth quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock valued at $688,108,000 after purchasing an additional 2,937,147 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock valued at $274,693,000 after purchasing an additional 990,362 shares during the period. Invesco Ltd. lifted its stake in shares of Agree Realty by 85.6% in the fourth quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock worth $155,895,000 after buying an additional 1,020,512 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Agree Realty by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust's stock worth $150,255,000 after buying an additional 57,492 shares during the period. Institutional investors own 97.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their target price on shares of Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus lowered their target price on Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. Mizuho boosted their target price on shares of Agree Realty from $74.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, StockNews.com upgraded shares of Agree Realty from a "sell" rating to a "hold" rating in a research note on Sunday, February 16th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.38.

Agree Realty Stock Up 1.3 %

Shares of ADC opened at $78.99 on Friday. Agree Realty Co. has a 12 month low of $56.32 and a 12 month high of $79.61. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 44.38, a P/E/G ratio of 2.88 and a beta of 0.55. The company has a 50-day moving average price of $74.65 and a two-hundred day moving average price of $73.91. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

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 EPS for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Equities analysts predict that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The company also recently announced a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.256 per share. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 4.1%. This is a boost from Agree Realty's previous apr 25 dividend of $0.25. Agree Realty's dividend payout ratio (DPR) is 172.47%.

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.

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