GAMMA Investing LLC Grows Stock Holdings in Agree Realty Co. (NYSE:ADC)

GAMMA Investing LLC boosted its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 7,115.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 209,031 shares of the real estate investment trust's stock after acquiring an additional 206,134 shares during the quarter. GAMMA Investing LLC owned 0.19% of Agree Realty worth $16,135,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Agree Realty during the fourth quarter worth about $31,000. Headlands Technologies LLC boosted its holdings in Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock worth $39,000 after buying an additional 235 shares during the last quarter. Quarry LP purchased a new stake in Agree Realty during the 4th quarter worth approximately $52,000. Principal Securities Inc. raised its holdings in shares of Agree Realty by 26.2% during the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 237 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Agree Realty by 857.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,206 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 1,080 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Truist Financial boosted their price target on Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Stifel Nicolaus upped their target price on shares of Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Barclays set a $77.00 target price on shares of Agree Realty and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. BTIG Research lowered shares of Agree Realty from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their price objective on shares of Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $81.19.

Agree Realty Trading Up 0.1%

ADC traded up $0.11 during trading hours on Friday, reaching $74.01. The company's stock had a trading volume of 1,003,761 shares, compared to its average volume of 1,066,271. The stock has a market cap of $8.14 billion, a PE ratio of 41.58, a P/E/G ratio of 2.88 and a beta of 0.56. Agree Realty Co. has a fifty-two week low of $59.66 and a fifty-two week high of $79.65. 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 business's 50-day moving average is $75.33 and its 200-day moving average is $74.06.

Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The company had revenue of $169.16 million for the quarter, compared to the consensus estimate 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 business earned $0.43 earnings per share. As a group, equities research analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.256 per share. This represents a $3.07 annualized dividend and a yield of 4.15%. The ex-dividend date is Friday, May 30th. This is a positive change from Agree Realty's previous monthly dividend of $0.25. Agree Realty's dividend payout ratio (DPR) is 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.