Charles Schwab Investment Management Inc. raised its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,588,355 shares of the real estate investment trust's stock after acquiring an additional 57,354 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.53% of Agree Realty worth $119,651,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC increased its stake in Agree Realty by 9,118.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust's stock worth $92,487,000 after buying an additional 1,214,437 shares during the period. PGGM Investments bought a new stake in shares of Agree Realty during the second quarter valued at approximately $70,225,000. Daiwa Securities Group Inc. boosted its holdings in shares of Agree Realty by 55.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust's stock valued at $112,453,000 after purchasing an additional 650,921 shares during the period. Leeward Investments LLC MA purchased a new stake in shares of Agree Realty in the second quarter valued at approximately $30,306,000. Finally, Lighthouse Investment Partners LLC bought a new position in Agree Realty in the second quarter worth approximately $25,086,000. Institutional investors own 97.83% of the company's stock.
Agree Realty Stock Performance
Shares of NYSE ADC traded up $0.56 during midday trading on Tuesday, reaching $76.97. The company had a trading volume of 576,468 shares, compared to its average volume of 961,695. The stock has a market cap of $7.97 billion, a P/E ratio of 42.21, a P/E/G ratio of 3.10 and a beta of 0.61. 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 Co. has a 1 year low of $54.28 and a 1 year high of $77.58. The business's 50-day simple moving average is $75.09 and its 200 day simple moving average is $69.40.
Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $152.83 million. During the same period in the prior year, the business posted $1.00 earnings per share. The business's quarterly revenue was up 12.8% compared to the same quarter last year. On average, analysts forecast that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.
Agree Realty Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty's payout ratio is 167.40%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. UBS Group upped their target price on Agree Realty from $77.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Raymond James increased their target price on shares of Agree Realty from $70.00 to $81.00 and gave the stock a "strong-buy" rating in a report on Wednesday, August 21st. Wells Fargo & Company reduced their price target on shares of Agree Realty from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, November 4th. BTIG Research lifted their price objective on shares of Agree Realty from $65.00 to $74.00 and gave the company a "buy" rating in a report on Monday, August 12th. Finally, Mizuho upped their target price on Agree Realty from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Four investment 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $75.73.
Get Our Latest Research Report on ADC
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.
Featured Articles
Before you consider Agree Realty, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Agree Realty wasn't on the list.
While Agree Realty currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
