17,990 Shares in Agree Realty Co. (NYSE:ADC) Acquired by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership bought a new position in shares of Agree Realty Co. (NYSE:ADC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,990 shares of the real estate investment trust's stock, valued at approximately $1,257,000. Agree Realty accounts for 0.7% of Foresight Group Ltd Liability Partnership's portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock valued at $274,693,000 after acquiring an additional 990,362 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust's stock valued at $177,030,000 after purchasing an additional 534,545 shares during the last quarter. FMR LLC boosted its position in shares of Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust's stock worth $168,648,000 after purchasing an additional 1,968,811 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Agree Realty by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust's stock worth $156,327,000 after buying an additional 30,377 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Agree Realty by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust's stock valued at $119,651,000 after buying an additional 57,354 shares in the last quarter. Institutional investors own 97.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADC shares. UBS Group upgraded shares of Agree Realty from a "neutral" rating to a "buy" rating and upped their price target for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Stifel Nicolaus dropped their price target on Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Barclays assumed coverage on shares of Agree Realty in a research report on Tuesday, December 17th. They set an "underweight" rating and a $76.00 target price for the company. StockNews.com upgraded Agree Realty from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of Agree Realty from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.53.

Agree Realty Trading Up 0.4 %

NYSE ADC traded up $0.31 during trading hours on Friday, hitting $72.46. 753,284 shares of the company were exchanged, compared to its average volume of 1,006,929. The stock has a market cap of $7.50 billion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.41 and a beta of 0.64. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $73.25 and a 200 day moving average price of $72.43. Agree Realty Co. has a 52 week low of $54.28 and a 52 week high of $78.39.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly 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 net margin of 31.62% and a return on equity of 3.77%. The firm 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 earnings per share. The business's revenue for the quarter was up 12.8% on a year-over-year basis. 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 declared a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.253 dividend. This represents a $3.04 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, January 31st. Agree Realty's dividend payout ratio is presently 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.