UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 6.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 113,341 shares of the real estate investment trust's stock after selling 7,380 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Agree Realty worth $8,538,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Agree Realty by 729.3% during 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 buying an additional 1,968,811 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Agree Realty by 9,118.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust's stock worth $92,487,000 after purchasing an additional 1,214,437 shares during the period. PGGM Investments bought a new position in shares of Agree Realty during the second quarter valued at approximately $70,225,000. Daiwa Securities Group Inc. increased its holdings in Agree Realty by 55.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust's stock valued at $112,453,000 after buying an additional 650,921 shares during the period. Finally, Leeward Investments LLC MA bought a new position in Agree Realty in the second quarter worth approximately $30,306,000. Hedge funds and other institutional investors own 97.83% of the company's stock.
Agree Realty Stock Performance
NYSE:ADC traded down $0.46 during midday trading on Tuesday, hitting $74.00. The company's stock had a trading volume of 504,959 shares, compared to its average volume of 947,004. 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 fifty-two week low of $54.28 and a fifty-two week high of $78.39. The firm's 50 day moving average is $75.27 and its 200-day moving average is $70.60. The firm has a market cap of $7.66 billion, a P/E ratio of 40.88, a P/E/G ratio of 3.68 and a beta of 0.62.
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 (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). The business had revenue of $154.33 million for the quarter, compared to analysts' expectations of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The company's revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. Equities analysts anticipate that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.
Agree Realty Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty's dividend payout ratio (DPR) is 167.96%.
Wall Street Analyst Weigh In
Several analysts have issued reports on ADC shares. StockNews.com cut Agree Realty from a "hold" rating to a "sell" rating in a research report on Monday. Truist Financial increased their price target on shares of Agree Realty from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Raymond James lifted their price objective on shares of Agree Realty from $70.00 to $81.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 21st. Mizuho increased their target price on shares of Agree Realty from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Finally, Robert W. Baird lifted their price target on shares of Agree Realty from $67.00 to $76.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $76.04.
Check Out Our Latest Research Report on Agree Realty
Agree Realty Profile
(
Free Report)
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.
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