Agree Realty Corporation (NYSE:ADC) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 61.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,982 shares of the real estate investment trust's stock after purchasing an additional 4,551 shares during the period. Janney Montgomery Scott LLC's holdings in Agree Realty were worth $925,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Agree Realty by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock worth $1,025,044,000 after buying an additional 219,806 shares during the period. Cohen & Steers Inc. grew its stake in Agree Realty by 43.0% during the 4th quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock valued at $688,108,000 after purchasing an additional 2,937,147 shares in the last quarter. Invesco Ltd. increased its stake in shares of Agree Realty by 85.6% in the fourth quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock worth $155,895,000 after buying an additional 1,020,512 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Agree Realty by 2.8% in 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 purchasing an additional 57,492 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $115,936,000 after buying an additional 57,297 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ADC. Stifel Nicolaus lifted their price target on shares of Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Barclays set a $77.00 price objective on shares of Agree Realty and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Robert W. Baird increased their price target on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Wells Fargo & Company lifted their price objective 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. Finally, Truist Financial lifted their target price on Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.96.

Agree Realty Trading Down 0.8%

NYSE ADC opened at $72.38 on Monday. Agree Realty Corporation has a 1-year low of $61.03 and a 1-year high of $79.65. The firm's fifty day simple moving average is $75.18 and its 200-day simple moving average is $73.89. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.96 billion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 30.05% and a return on equity of 3.66%. During the same quarter in the previous year, the business earned $0.43 EPS. As a group, sell-side analysts anticipate that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently disclosed a jun 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.256 per share. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, June 30th. Agree Realty's dividend payout ratio is currently 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.

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