Vanderbilt University Has $1.28 Million Position in Agree Realty Co. (NYSE:ADC)

Vanderbilt University grew its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 148.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,933 shares of the real estate investment trust's stock after purchasing an additional 10,129 shares during the quarter. Vanderbilt University's holdings in Agree Realty were worth $1,276,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State of Alaska Department of Revenue grew its position in shares of Agree Realty by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust's stock valued at $4,438,000 after purchasing an additional 224 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Agree Realty by 5.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,635 shares of the real estate investment trust's stock valued at $726,000 after purchasing an additional 531 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of Agree Realty by 9,118.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust's stock valued at $92,487,000 after purchasing an additional 1,214,437 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Agree Realty by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,906 shares of the real estate investment trust's stock valued at $292,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its position in shares of Agree Realty by 4.5% in the third quarter. Spirit of America Management Corp NY now owns 8,100 shares of the real estate investment trust's stock valued at $610,000 after purchasing an additional 350 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Price Performance

ADC traded down $0.60 during midday trading on Monday, reaching $74.43. 1,533,561 shares of the company's stock were exchanged, compared to its average volume of 964,158. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. Agree Realty Co. has a one year low of $52.69 and a one year high of $77.47. The business has a 50-day simple moving average of $74.53 and a two-hundred day simple moving average of $66.73.

Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.61). Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The firm had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter last year, the firm posted $1.00 EPS. The business's revenue was up 12.8% on a year-over-year basis. As a group, research analysts predict that Agree Realty Co. will post 4.11 EPS for the current year.

Agree Realty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.253 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Agree Realty's previous monthly dividend of $0.25. Agree Realty's payout ratio is 178.24%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Raymond James increased their target price on shares of Agree Realty from $70.00 to $81.00 and gave the company a "strong-buy" rating in a research note on Wednesday, August 21st. Truist Financial increased their target price on shares of Agree Realty from $68.00 to $77.00 and gave the company a "buy" rating in a research note on Monday, August 5th. UBS Group increased their target price on shares of Agree Realty from $72.00 to $77.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. KeyCorp increased their target price 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, Royal Bank of Canada increased their target price on shares of Agree Realty from $79.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Agree Realty currently has an average rating of "Moderate Buy" and an average price target of $73.88.

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.