Charles Schwab Investment Management Inc. Has $130.86 Million Stock Holdings in Agree Realty Corporation (NYSE:ADC)

Key Points

• Charles Schwab Investment Management has increased its holdings in Agree Realty Corporation to $130.86 million, representing a 3.0% increase in shares owned during the first quarter.
• Agree Realty is set to pay a monthly dividend of $0.256 on August 14th, yielding 4.2%, with a current dividend payout ratio of 182.74%.
• Analysts' ratings for Agree Realty reflect a consensus rating of "Moderate Buy" with varied target prices, the highest being $84.00, indicating positive sentiment toward the stock’s future performance.

Charles Schwab Investment Management Inc. grew its stake in Agree Realty Corporation (NYSE:ADC - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,695,297 shares of the real estate investment trust's stock after buying an additional 49,645 shares during the period. Charles Schwab Investment Management Inc. owned 1.54% of Agree Realty worth $130,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ADC. Cullen Frost Bankers Inc. acquired a new stake in shares of Agree Realty in the first quarter valued at about $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Agree Realty in the fourth quarter valued at about $31,000. Capital Advisors Ltd. LLC increased its stake in shares of Agree Realty by 137.8% in the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 270 shares during the period. NBC Securities Inc. acquired a new stake in shares of Agree Realty in the first quarter valued at about $39,000. Finally, Larson Financial Group LLC increased its stake in shares of Agree Realty by 415.1% in the first quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 440 shares during the period. Institutional investors and hedge funds own 97.83% of the company's stock.

Agree Realty Stock Performance

Shares of ADC opened at $72.91 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 2.39 and a beta of 0.55. The stock has a 50 day moving average of $73.39 and a 200 day moving average of $74.28. Agree Realty Corporation has a 12 month low of $67.58 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Thursday, July 31st. 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. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%. The business had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. During the same period last year, the business posted $1.04 earnings per share. The business's revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a $0.256 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Thursday, July 31st. Agree Realty's dividend payout ratio is presently 182.74%.

Analyst Ratings Changes

Several research firms recently commented on ADC. Barclays raised their target price on Agree Realty from $77.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Morgan Stanley cut Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 target price for the company. in a research note on Friday, July 11th. BTIG Research cut Agree Realty from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 7th. Truist Financial set a $84.00 price target on Agree Realty in a report on Friday. Finally, UBS Group set a $80.00 price target on Agree Realty and gave the stock a "buy" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.46.

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.

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