Dimensional Fund Advisors LP Purchases 23,162 Shares of Agree Realty Co. (NYSE:ADC)

Dimensional Fund Advisors LP increased its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,550,140 shares of the real estate investment trust's stock after acquiring an additional 23,162 shares during the period. Dimensional Fund Advisors LP owned about 1.50% of Agree Realty worth $109,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock worth $30,000 after buying an additional 293 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Agree Realty during the fourth quarter worth $31,000. Headlands Technologies LLC lifted its stake in shares of Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 235 shares during the last quarter. Financial Life Planners bought a new stake in Agree Realty during the 4th quarter worth $44,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Agree Realty by 34.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 230 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADC shares. Wells Fargo & Company upped their price objective on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Mizuho increased 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. UBS Group raised Agree Realty from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. StockNews.com lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.88.

Agree Realty Stock Performance

Shares of ADC stock traded down $0.55 during trading on Friday, hitting $76.38. The company's stock had a trading volume of 351,590 shares, compared to its average volume of 1,013,490. The business has a fifty day moving average of $75.66 and a 200-day moving average of $74.12. The company has a market cap of $8.40 billion, a PE ratio of 42.91, a P/E/G ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a 52 week low of $57.73 and a 52 week 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.

Agree Realty (NYSE:ADC - Get Free Report) last released 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. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. The firm had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Increases Dividend

The firm also recently announced a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $0.256 dividend. This is an increase from Agree Realty's previous apr 25 dividend of $0.25. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a dividend 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.