AQR Capital Management LLC Sells 136,796 Shares of Agree Realty Co. (NYSE:ADC)

AQR Capital Management LLC trimmed its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 32.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,930 shares of the real estate investment trust's stock after selling 136,796 shares during the period. AQR Capital Management LLC owned 0.27% of Agree Realty worth $19,690,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Agree Realty by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock valued at $1,025,044,000 after acquiring an additional 219,806 shares during the period. Cohen & Steers Inc. raised its stake in Agree Realty by 43.0% during the 4th quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock valued at $688,108,000 after purchasing an additional 2,937,147 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Agree Realty by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock valued at $274,693,000 after purchasing an additional 990,362 shares during the period. Invesco Ltd. increased its holdings in shares of Agree Realty by 85.6% during the 4th quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock worth $155,895,000 after purchasing an additional 1,020,512 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Agree Realty by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust's stock valued at $150,255,000 after buying an additional 57,492 shares during the last quarter. Institutional investors own 97.83% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stifel Nicolaus upped their price target on Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Mizuho increased their price objective on shares of Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a research report on Wednesday, April 30th. Truist Financial upped their price objective on Agree Realty from $77.00 to $82.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wells Fargo & Company boosted their price target on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.04.

Agree Realty Trading Up 0.2 %

Shares of ADC traded up $0.17 during trading hours on Friday, hitting $75.15. 1,261,324 shares of the stock traded hands, compared to its average volume of 1,027,244. The business has a fifty day moving average of $75.91 and a 200-day moving average of $74.13. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $8.27 billion, a PE ratio of 42.22, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57. Agree Realty Co. has a 1-year low of $58.38 and a 1-year high of $79.65.

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

Agree Realty Increases Dividend

The business also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a $0.256 dividend. This is a positive change from Agree Realty's previous apr 25 dividend of $0.25. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 30th. Agree Realty's dividend payout ratio (DPR) is currently 173.45%.

Agree Realty 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.