Leeward Investments LLC MA Has $37.75 Million Holdings in Agree Realty Co. (NYSE:ADC)

Leeward Investments LLC MA boosted its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 501,171 shares of the real estate investment trust's stock after purchasing an additional 11,894 shares during the quarter. Agree Realty comprises 1.8% of Leeward Investments LLC MA's investment portfolio, making the stock its 3rd biggest position. Leeward Investments LLC MA owned 0.50% of Agree Realty worth $37,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MCF Advisors LLC bought a new stake in shares of Agree Realty during the second quarter worth about $26,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Agree Realty by 248.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 442 shares during the last quarter. Headlands Technologies LLC grew its holdings 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 purchasing an additional 798 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Agree Realty by 44.5% during 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 last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of Agree Realty during the third quarter worth about $75,000. Institutional investors own 97.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADC shares. Stifel Nicolaus boosted their price target on Agree Realty from $67.50 to $71.50 and gave the stock a "buy" rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on Agree Realty from $72.00 to $77.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. KeyCorp lifted their price objective on Agree Realty from $68.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 4th. Truist Financial lifted their price objective on Agree Realty from $77.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, BTIG Research lifted their price objective on Agree Realty from $65.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.19.

Agree Realty Stock Up 0.7 %

Shares of NYSE:ADC traded up $0.49 during trading on Thursday, reaching $73.68. 1,284,758 shares of the stock were exchanged, compared to its average volume of 974,954. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $77.47. The stock has a fifty day moving average of $74.78 and a two-hundred day moving average of $67.71. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 40.71, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $152.83 million. During the same period in the previous year, the company earned $1.00 earnings per share. Agree Realty's revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts anticipate that Agree Realty Co. will post 4.11 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.253 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.04 annualized dividend and a yield of 4.12%. This is an increase from Agree Realty's previous monthly dividend of $0.25. Agree Realty's dividend payout ratio is 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.