Landscape Capital Management L.L.C. Acquires 11,741 Shares of Agree Realty Co. (NYSE:ADC)

Landscape Capital Management L.L.C. lifted its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 116.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,858 shares of the real estate investment trust's stock after acquiring an additional 11,741 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Agree Realty were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc raised its stake in shares of Agree Realty by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust's stock worth $220,000 after purchasing an additional 153 shares in the last quarter. Carmel Capital Partners LLC increased its holdings in Agree Realty by 2.5% in the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust's stock worth $486,000 after buying an additional 167 shares during the last quarter. UMB Bank n.a. raised its position in Agree Realty by 17.3% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 168 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Agree Realty by 3.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust's stock valued at $323,000 after acquiring an additional 169 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in Agree Realty by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 170 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Agree Realty from a "sell" rating to a "hold" rating in a research note on Sunday, February 16th. Royal Bank of Canada decreased their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. JMP Securities downgraded Agree Realty from an "outperform" rating to a "market perform" rating in a report on Tuesday, December 17th. Barclays upgraded shares of Agree Realty from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus dropped their target price on shares of Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Agree Realty presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.38.

Agree Realty Stock Performance

ADC traded down $0.57 during trading on Thursday, reaching $72.35. 309,248 shares of the company's stock were exchanged, compared to its average volume of 973,304. The company has a market capitalization of $7.77 billion, a P/E ratio of 40.71, a PEG ratio of 2.88 and a beta of 0.55. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $74.08 and a 200 day moving average price of $73.82. Agree Realty Co. has a fifty-two week low of $54.78 and a fifty-two week high of $78.39.

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 for the quarter, beating analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. As a group, analysts predict that Agree Realty Co. will post 4.27 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 Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.253 dividend. This represents a $3.04 annualized dividend and a yield of 4.20%. The ex-dividend date is Monday, March 31st. Agree Realty's dividend payout ratio is 170.22%.

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.