Agree Realty Co. (NYSE:ADC) Shares Sold by Barclays PLC

Barclays PLC decreased its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 48.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,728 shares of the real estate investment trust's stock after selling 116,055 shares during the quarter. Barclays PLC owned about 0.12% of Agree Realty worth $8,718,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ADC. Versant Capital Management Inc grew its stake in Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 293 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Agree Realty in the fourth quarter valued at approximately $31,000. Headlands Technologies LLC increased its holdings in shares of Agree Realty by 72.8% in the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 235 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Agree Realty in the fourth quarter valued at approximately $44,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in 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 worth $63,000 after buying an additional 230 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADC. Royal Bank of Canada cut their target price on Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. 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 report on Monday, January 6th. Barclays raised shares of 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 note on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Agree Realty presently has an average rating of "Moderate Buy" and a consensus price target of $80.88.

Agree Realty Trading Down 0.8 %

ADC traded down $0.63 during mid-day trading on Friday, hitting $75.66. 1,732,967 shares of the stock were exchanged, compared to its average volume of 1,008,573. The company has a market cap of $8.32 billion, a PE ratio of 42.51, a PEG ratio of 2.88 and a beta of 0.55. 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 firm's fifty day moving average is $75.26 and its two-hundred day moving average is $74.03. Agree Realty Co. has a 1-year low of $57.02 and a 1-year high of $79.65.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. The business had revenue of $169.16 million during the quarter, compared to analyst estimates of $167.77 million. During the same quarter last year, the firm posted $0.43 earnings per share. Equities analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The business also recently disclosed a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders 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 positive change from Agree Realty's previous apr 25 dividend of $0.25. Agree Realty's dividend payout ratio is currently 173.45%.

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.