Janus Henderson Group PLC Lowers Stock Position in Agree Realty Co. (NYSE:ADC)

Janus Henderson Group PLC lowered its position in Agree Realty Co. (NYSE:ADC - Free Report) by 48.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,454 shares of the real estate investment trust's stock after selling 752,982 shares during the period. Janus Henderson Group PLC owned approximately 0.78% of Agree Realty worth $60,523,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in Agree Realty in the second quarter valued at $26,000. Headlands Technologies LLC boosted its position in shares of Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust's stock worth $71,000 after buying an additional 798 shares during the period. UMB Bank n.a. lifted its position in Agree Realty by 44.5% in the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust's stock worth $73,000 after purchasing an additional 299 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Agree Realty in the third quarter worth approximately $75,000. Finally, GAMMA Investing LLC grew its position in Agree Realty by 125.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,403 shares of the real estate investment trust's stock worth $87,000 after purchasing an additional 782 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Stock Down 0.5 %

NYSE:ADC traded down $0.38 during mid-day trading on Friday, hitting $74.72. 533,260 shares of the company's stock were exchanged, compared to its average volume of 950,795. The business has a fifty day moving average price of $75.31 and a 200 day moving average price of $70.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $7.74 billion, a PE ratio of 41.28, a P/E/G ratio of 3.67 and a beta of 0.62. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39.

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

Agree Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.04 annualized dividend and a dividend yield of 4.06%. Agree Realty's dividend payout ratio (DPR) is 167.96%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Mizuho boosted 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. Raymond James lifted their price target on Agree Realty from $70.00 to $81.00 and gave the company a "strong-buy" rating in a report on Wednesday, August 21st. KeyCorp increased their price objective on Agree Realty from $68.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 4th. Wells Fargo & Company lowered their price target on shares of Agree Realty from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Finally, Truist Financial raised their target price on Agree Realty from $77.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Agree Realty has an average rating of "Moderate Buy" and an average price target of $76.04.

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.