Squarepoint Ops LLC lifted its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 140.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,825 shares of the real estate investment trust's stock after acquiring an additional 29,115 shares during the quarter. Squarepoint Ops LLC's holdings in Agree Realty were worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Agree Realty during the fourth quarter valued at $31,000. Headlands Technologies LLC raised its stake in shares of Agree Realty by 72.8% in the fourth 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 period. Financial Life Planners bought a new position in shares of Agree Realty in the fourth quarter worth about $44,000. Quarry LP bought a new position in shares of Agree Realty in the fourth quarter worth about $52,000. Finally, Principal Securities Inc. raised its stake in shares of Agree Realty by 26.2% in the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust's stock worth $80,000 after buying an additional 237 shares during the period. Institutional investors own 97.83% of the company's stock.
Analysts Set New Price Targets
Several analysts recently issued reports on ADC shares. Truist Financial lifted their target price on Agree Realty from $77.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, May 5th. BTIG Research cut Agree Realty from a "buy" rating to a "neutral" rating in a report on Wednesday, May 7th. JMP Securities reaffirmed a "market perform" rating on shares of Agree Realty in a research report on Friday, May 16th. Robert W. Baird lifted 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, April 25th. Finally, Stifel Nicolaus boosted their price target on Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.19.
Check Out Our Latest Stock Analysis on Agree Realty
Agree Realty Price Performance
ADC stock traded up $1.01 during mid-day trading on Friday, reaching $75.41. 1,401,657 shares of the company's stock were exchanged, compared to its average volume of 1,060,757. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 42.37, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57. The stock's 50 day moving average is $75.52 and its 200 day moving average is $74.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. Agree Realty Co. has a 12-month low of $59.66 and a 12-month high of $79.65.
Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping 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 prior year, the business posted $0.43 earnings per share. On average, research analysts expect that Agree Realty Co. will post 4.27 EPS for the current year.
Agree Realty Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.256 dividend. This represents a $3.07 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from Agree Realty's previous monthly dividend of $0.25. Agree Realty's dividend payout ratio (DPR) is 173.45%.
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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