Barclays PLC Sells 116,055 Shares of Agree Realty Co. (NYSE:ADC)

Barclays PLC trimmed its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 48.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,728 shares of the real estate investment trust's stock after selling 116,055 shares during the quarter. Barclays PLC owned 0.12% of Agree Realty worth $8,718,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Agree Realty by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock worth $1,025,044,000 after acquiring an additional 219,806 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock worth $274,693,000 after buying an additional 990,362 shares in the last quarter. Invesco Ltd. grew its position in shares of Agree Realty by 85.6% during the fourth quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock valued at $155,895,000 after purchasing an additional 1,020,512 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Agree Realty by 2.8% during the 4th 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 acquiring an additional 57,492 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Agree Realty by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust's stock valued at $115,936,000 after buying an additional 57,297 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADC. Stifel Nicolaus lifted their target price on Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Mizuho boosted their target price on shares of Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Robert W. Baird increased their target price on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday. UBS Group upgraded shares of Agree Realty from a "neutral" rating to a "buy" rating and increased their target price for the company from $79.00 to $84.00 in a research report on Monday, January 6th. Finally, Evercore ISI boosted their target price on shares of Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Agree Realty presently has an average rating of "Moderate Buy" and a consensus target price of $80.88.

Agree Realty Stock Up 0.9 %

NYSE:ADC traded up $0.68 during mid-day trading on Tuesday, reaching $77.11. The stock had a trading volume of 154,155 shares, compared to its average volume of 1,007,119. Agree Realty Co. has a fifty-two week low of $57.02 and a fifty-two week high of $79.65. The business's 50 day moving average is $75.37 and its 200 day moving average is $74.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $8.48 billion, a P/E ratio of 43.32, a PEG ratio of 2.88 and a beta of 0.55.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. The firm had revenue of $169.16 million during the quarter, compared to analysts' expectations of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same period last year, the business earned $0.43 earnings per share. As a group, sell-side analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Increases Dividend

The company also recently disclosed a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.256 per share. This is a positive change from Agree Realty's previous apr 25 dividend of $0.25. The ex-dividend date is Wednesday, April 30th. This represents a yield of 4.1%. Agree Realty's dividend payout ratio (DPR) is presently 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.