Barclays PLC raised its position in Agree Realty Co. (NYSE:ADC - Free Report) by 129.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,783 shares of the real estate investment trust's stock after purchasing an additional 135,274 shares during the quarter. Barclays PLC owned 0.23% of Agree Realty worth $18,062,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. MCF Advisors LLC acquired a new stake in Agree Realty in the 2nd quarter valued at approximately $26,000. UMB Bank n.a. raised its holdings in shares of 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 purchasing an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Agree Realty in the third quarter worth $75,000. Headlands Technologies LLC boosted its holdings in Agree Realty by 232.0% during the second 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 during the last quarter. Finally, GAMMA Investing LLC grew its position in Agree Realty by 53.5% in the third quarter. GAMMA Investing LLC now owns 2,154 shares of the real estate investment trust's stock valued at $162,000 after purchasing an additional 751 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.
Agree Realty Stock Performance
ADC stock traded up $1.02 during mid-day trading on Friday, hitting $74.66. 516,102 shares of the company were exchanged, compared to its average volume of 941,970. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $78.39. The stock has a market capitalization of $7.73 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 3.66 and a beta of 0.62. The business has a 50 day simple moving average of $75.23 and a 200-day simple moving average of $70.92. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.
Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly 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 firm had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business's revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 earnings per share. On average, equities analysts forecast 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 Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.253 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.07%. Agree Realty's dividend payout ratio (DPR) is presently 167.40%.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Evercore ISI started coverage on shares of Agree Realty in a research report on Thursday. They set an "outperform" rating and a $82.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a research report on Wednesday. They set a "buy" rating and a $88.00 price target for the company. Robert W. Baird boosted their price target on Agree Realty from $67.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. StockNews.com downgraded Agree Realty from a "hold" rating to a "sell" rating in a report on Monday, December 9th. Finally, BTIG Research boosted their target price on shares of Agree Realty from $74.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.18.
View Our Latest Stock Analysis on Agree Realty
Agree Realty 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.
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