Aptus Capital Advisors LLC Has $3.94 Million Stock Position in Agree Realty Co. (NYSE:ADC)

Aptus Capital Advisors LLC raised its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 15.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,315 shares of the real estate investment trust's stock after purchasing an additional 7,056 shares during the period. Aptus Capital Advisors LLC owned about 0.05% of Agree Realty worth $3,941,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC acquired a new stake in Agree Realty in the 2nd quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Agree Realty by 248.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust's stock worth $38,000 after buying an additional 442 shares during the last quarter. Headlands Technologies LLC lifted 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 valued at $71,000 after acquiring an additional 798 shares in the last quarter. UMB Bank n.a. raised its stake in Agree Realty by 44.5% in the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust's stock valued at $73,000 after buying an additional 299 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new stake in Agree Realty during the third quarter worth approximately $75,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADC shares. Mizuho upped their target price on Agree Realty from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday. BTIG Research raised their price target on Agree Realty from $65.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. Robert W. Baird upped their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Truist Financial raised their price objective on Agree Realty from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Raymond James lifted their target price on Agree Realty from $70.00 to $81.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.73.

Agree Realty Stock Down 1.4 %

Shares of NYSE ADC traded down $1.06 during mid-day trading on Thursday, reaching $75.59. 732,991 shares of the company traded hands, compared to its average volume of 971,624. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $77.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $7.83 billion, a PE ratio of 41.61, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. The company's fifty day moving average is $75.00 and its two-hundred day moving average is $68.30.

Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the previous year, the company posted $1.00 EPS. Agree Realty's revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts expect that Agree Realty Co. will post 4.11 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. Stockholders of record on Friday, November 29th will be paid a dividend of $0.253 per share. The ex-dividend date is Friday, November 29th. This represents a $3.04 annualized dividend and a dividend yield of 4.02%. Agree Realty's dividend payout ratio is currently 167.96%.

Agree Realty Company 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.