Agree Realty Co. (NYSE:ADC) Shares Acquired by Jane Street Group LLC

Jane Street Group LLC increased its stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 833.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,958 shares of the real estate investment trust's stock after purchasing an additional 90,143 shares during the quarter. Jane Street Group LLC owned 0.10% of Agree Realty worth $7,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its stake in shares of Agree Realty by 29.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust's stock worth $177,030,000 after acquiring an additional 534,545 shares during the period. FMR LLC lifted its position in Agree Realty by 729.3% in the third quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust's stock valued at $168,648,000 after purchasing an additional 1,968,811 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Agree Realty by 3.7% in 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 purchasing an additional 57,354 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Agree Realty by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,522,014 shares of the real estate investment trust's stock worth $94,273,000 after purchasing an additional 76,818 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Agree Realty by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,284,143 shares of the real estate investment trust's stock worth $79,540,000 after buying an additional 43,768 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADC has been the topic of a number of analyst reports. Mizuho lifted their price target on Agree Realty from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Robert W. Baird boosted their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Royal Bank of Canada increased their price target on shares of Agree Realty from $79.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. KeyCorp raised their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company lowered their target price 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, two have issued 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.com, Agree Realty has an average rating of "Moderate Buy" and an average price target of $78.18.

Agree Realty Price Performance

Shares of Agree Realty stock traded up $1.02 during trading on Friday, hitting $74.66. 516,102 shares of the company were exchanged, compared to its average volume of 941,970. The firm has a 50 day moving average price of $75.23 and a 200 day moving average price of $70.76. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 41.25, a P/E/G ratio of 3.66 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). The company had revenue of $154.33 million during the quarter, compared to analysts' expectations of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The firm's revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, equities analysts expect that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Tuesday, December 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.