Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Holdings in Agree Realty Co. (NYSE:ADC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Agree Realty Co. (NYSE:ADC - Free Report) by 45.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,574 shares of the real estate investment trust's stock after acquiring an additional 18,120 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.06% of Agree Realty worth $4,056,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its holdings in shares of Agree Realty by 28.9% in the 4th quarter. Teacher Retirement System of Texas now owns 16,009 shares of the real estate investment trust's stock worth $1,128,000 after purchasing an additional 3,591 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Agree Realty by 70.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,110 shares of the real estate investment trust's stock worth $360,000 after buying an additional 2,106 shares in the last quarter. Xponance Inc. grew its holdings in Agree Realty by 11.0% during the fourth quarter. Xponance Inc. now owns 11,962 shares of the real estate investment trust's stock worth $843,000 after buying an additional 1,188 shares in the last quarter. Signaturefd LLC raised its position in Agree Realty by 7.2% in the 4th quarter. Signaturefd LLC now owns 9,903 shares of the real estate investment trust's stock valued at $698,000 after buying an additional 663 shares during the last quarter. Finally, Cibc World Markets Corp lifted its stake in Agree Realty by 13.4% during the 4th quarter. Cibc World Markets Corp now owns 30,095 shares of the real estate investment trust's stock valued at $2,120,000 after acquiring an additional 3,562 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

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Agree Realty Stock Performance

Shares of NYSE ADC traded down $0.49 during mid-day trading on Tuesday, hitting $75.22. The company had a trading volume of 272,103 shares, compared to its average volume of 925,065. Agree Realty Co. has a 1 year low of $54.78 and a 1 year high of $78.39. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 42.32, a P/E/G ratio of 2.88 and a beta of 0.64. 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 stock's 50-day moving average price is $73.44 and its 200-day moving average price is $73.91.

Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. On average, sell-side analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, March 31st. Agree Realty's dividend payout ratio is currently 170.22%.

Analyst Upgrades and Downgrades

ADC has been the subject of several analyst reports. Citizens Jmp downgraded shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. JMP Securities cut shares of Agree Realty from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 17th. Evercore ISI assumed coverage on Agree Realty in a report on Thursday, December 12th. They issued an "outperform" rating and a $82.00 target price for the company. Royal Bank of Canada dropped their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Finally, Wells Fargo & Company upped their price objective on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.85.

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.