Caxton Associates LP bought a new stake in Agree Realty Co. (NYSE:ADC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,604 shares of the real estate investment trust's stock, valued at approximately $324,000.
Several other hedge funds also recently modified their holdings of the company. Barclays PLC grew its position in shares of Agree Realty by 129.4% during the third quarter. Barclays PLC now owns 239,783 shares of the real estate investment trust's stock worth $18,062,000 after buying an additional 135,274 shares in the last quarter. World Investment Advisors LLC purchased a new position in Agree Realty in the third quarter valued at about $211,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Agree Realty during the 3rd quarter valued at about $77,000. Franklin Resources Inc. grew its stake in shares of Agree Realty by 8.2% in the third quarter. Franklin Resources Inc. now owns 66,153 shares of the real estate investment trust's stock worth $4,917,000 after acquiring an additional 5,039 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 990,362 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
Agree Realty Trading Down 0.7%
NYSE:ADC traded down $0.51 on Tuesday, reaching $73.09. 378,178 shares of the stock traded hands, compared to its average volume of 1,031,128. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57. Agree Realty Co. has a 1-year low of $58.52 and a 1-year high of $79.65. 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 company's 50 day moving average is $75.88 and its 200-day moving average is $74.10.
Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The business had revenue of $169.16 million during the quarter, compared to analyst estimates of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same quarter in the previous year, the firm earned $0.43 EPS. Equities research analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current fiscal year.
Agree Realty Increases Dividend
The company also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.256 per share. This represents a dividend yield of 4.1%. This is a boost from Agree Realty's previous apr 25 dividend of $0.25. The ex-dividend date of this dividend is Wednesday, April 30th. Agree Realty's dividend payout ratio is presently 173.45%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. Wells Fargo & Company lifted their target price on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Mizuho lifted their price target on shares of Agree Realty from $74.00 to $81.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. JMP Securities reaffirmed a "market perform" rating on shares of Agree Realty in a research report on Wednesday, April 30th. 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 research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.04.
Read Our Latest 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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