XTX Topco Ltd Makes New Investment in Agree Realty Co. (NYSE:ADC)

XTX Topco Ltd acquired a new position in shares of Agree Realty Co. (NYSE:ADC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,965 shares of the real estate investment trust's stock, valued at approximately $901,000.

A number of other institutional investors have also recently bought and sold shares of ADC. MCF Advisors LLC bought a new position in Agree Realty during the 2nd quarter worth $26,000. Headlands Technologies LLC raised its position in shares of Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 798 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Agree Realty by 44.5% during the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust's stock worth $73,000 after acquiring an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Agree Realty in the 3rd quarter valued at $75,000. Finally, Private Ocean LLC acquired a new stake in Agree Realty in the second quarter valued at about $146,000. Institutional investors own 97.83% of the company's stock.

Agree Realty Trading Up 0.4 %

Shares of NYSE:ADC traded up $0.33 during mid-day trading on Wednesday, hitting $74.33. The company had a trading volume of 650,706 shares, compared to its average volume of 945,764. The firm has a fifty day moving average price of $75.25 and a 200 day moving average price of $70.63. The company has a market capitalization of $7.69 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 3.68 and a beta of 0.62. 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 one year low of $54.28 and a one year high of $78.39.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly 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). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business had revenue of $154.33 million during the quarter, compared to analyst estimates of $152.83 million. During the same period in the previous year, the business posted $1.00 EPS. The business's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts forecast that Agree Realty Co. will post 4.12 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.253 dividend. This represents a $3.04 annualized dividend and a yield of 4.08%. The ex-dividend date is Friday, November 29th. Agree Realty's payout ratio is currently 167.40%.

Wall Street Analysts Forecast Growth

ADC has been the subject of several research reports. Truist Financial increased their price objective on shares of Agree Realty from $77.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their target price on Agree Realty from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, November 4th. 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 research note on Wednesday, August 21st. BTIG Research raised their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, UBS Group raised their price objective on shares of Agree Realty from $77.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.89.

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.