Agree Realty Co. (NYSE:ADC) Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lowered its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 35.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 540,940 shares of the real estate investment trust's stock after selling 294,914 shares during the period. Deprince Race & Zollo Inc. owned about 0.52% of Agree Realty worth $38,109,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC increased its stake in shares of Agree Realty by 6.3% during the fourth quarter. EP Wealth Advisors LLC now owns 4,150 shares of the real estate investment trust's stock valued at $292,000 after buying an additional 246 shares during the period. Crestline Management LP grew its stake in Agree Realty by 251.5% in the fourth quarter. Crestline Management LP now owns 57,734 shares of the real estate investment trust's stock valued at $4,067,000 after purchasing an additional 41,310 shares during the last quarter. Cetera Investment Advisers grew its stake in Agree Realty by 11.6% in the fourth quarter. Cetera Investment Advisers now owns 27,890 shares of the real estate investment trust's stock valued at $1,965,000 after purchasing an additional 2,899 shares during the last quarter. Brevan Howard Capital Management LP grew its stake in Agree Realty by 107.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 22,980 shares of the real estate investment trust's stock valued at $1,619,000 after purchasing an additional 11,893 shares during the last quarter. Finally, Bridgefront Capital LLC grew its stake in Agree Realty by 70.3% in the fourth quarter. Bridgefront Capital LLC now owns 16,497 shares of the real estate investment trust's stock valued at $1,162,000 after purchasing an additional 6,812 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ADC. Mizuho lifted their target price on Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $74.00 to $75.00 in a research note on Tuesday, March 4th. Robert W. Baird lifted their target price on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Evercore ISI lifted their target price on Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, StockNews.com lowered Agree Realty from a "hold" rating to a "sell" rating in a research note on Sunday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.04.

Agree Realty Stock Performance

Shares of Agree Realty stock traded down $1.69 on Monday, reaching $73.48. 2,012,111 shares of the stock were exchanged, compared to its average volume of 1,033,660. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a twelve month low of $58.52 and a twelve month high of $79.65. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 41.28, a PEG ratio of 2.88 and a beta of 0.57. The business has a 50 day moving average price of $75.92 and a two-hundred day moving average price of $74.11.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. The firm had revenue of $169.16 million during the quarter, compared to the consensus estimate of $167.77 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. Analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The business also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.256 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Agree Realty's previous apr 25 dividend of $0.25. This represents a yield of 4.1%. Agree Realty's payout ratio is presently 173.45%.

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.