APG Asset Management US Inc. Makes New $25.39 Million Investment in Agree Realty Co. (NYSE:ADC)

APG Asset Management US Inc. bought a new position in Agree Realty Co. (NYSE:ADC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 360,343 shares of the real estate investment trust's stock, valued at approximately $25,386,000. APG Asset Management US Inc. owned about 0.35% of Agree Realty as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in Agree Realty by 24.5% during the 3rd quarter. HighTower Advisors LLC now owns 12,472 shares of the real estate investment trust's stock worth $957,000 after acquiring an additional 2,453 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Agree Realty by 23.9% during the 3rd quarter. Quantinno Capital Management LP now owns 6,015 shares of the real estate investment trust's stock worth $453,000 after purchasing an additional 1,160 shares during the last quarter. Jane Street Group LLC boosted its stake in Agree Realty by 833.5% during the 3rd quarter. Jane Street Group LLC now owns 100,958 shares of the real estate investment trust's stock valued at $7,605,000 after purchasing an additional 90,143 shares during the period. EP Wealth Advisors LLC acquired a new stake in Agree Realty in the 3rd quarter valued at approximately $294,000. Finally, XTX Topco Ltd acquired a new stake in Agree Realty in the 3rd quarter valued at approximately $901,000. Institutional investors own 97.83% of the company's stock.

Agree Realty Price Performance

Shares of ADC traded up $1.33 on Monday, hitting $76.24. The company's stock had a trading volume of 316,644 shares, compared to its average volume of 976,633. The company has a market capitalization of $8.18 billion, a PE ratio of 42.83, a PEG ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a fifty-two week low of $54.78 and a fifty-two week high of $78.39. The company has a 50 day moving average price of $74.13 and a 200 day moving average price of $73.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

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Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping 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%. On average, research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The business also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.256 per share. This is a boost from Agree Realty's previous apr 25 dividend of $0.25. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 30th. Agree Realty's dividend payout ratio is 170.22%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADC shares. UBS Group upgraded shares of Agree Realty from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Wells Fargo & Company boosted their price objective on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Citizens Jmp cut shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $74.00 to $75.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada cut their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Five equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $80.38.

Agree Realty Profile

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.