Natixis Advisors LLC Acquires 8,913 Shares of Agree Realty Corporation (NYSE:ADC)

Key Points

• Natixis Advisors LLC has increased its stake in Agree Realty Corporation by 9.7%, acquiring an additional 8,913 shares, bringing its total holdings to 100,991 shares valued at approximately $7.8 million.
• Agree Realty's latest earnings report showed an EPS of $1.06, surpassing analysts' expectations, with revenue increasing by 15% compared to the same quarter last year.
• The company announced a monthly dividend of $0.256 per share, reflecting an annualized yield of 4.1%, with a high dividend payout ratio of 182.74%.

Natixis Advisors LLC raised its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,991 shares of the real estate investment trust's stock after acquiring an additional 8,913 shares during the quarter. Natixis Advisors LLC owned about 0.09% of Agree Realty worth $7,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GF Fund Management CO. LTD. raised its holdings in Agree Realty by 7.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,961 shares of the real estate investment trust's stock valued at $151,000 after acquiring an additional 132 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Agree Realty by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust's stock valued at $365,000 after acquiring an additional 139 shares during the period. Azzad Asset Management Inc. ADV raised its holdings in Agree Realty by 2.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,884 shares of the real estate investment trust's stock valued at $531,000 after acquiring an additional 187 shares during the period. Journey Strategic Wealth LLC raised its holdings in Agree Realty by 3.6% during the 1st quarter. Journey Strategic Wealth LLC now owns 6,592 shares of the real estate investment trust's stock valued at $509,000 after acquiring an additional 229 shares during the period. Finally, Headlands Technologies LLC raised its holdings in Agree Realty by 72.8% during 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 period. Institutional investors own 97.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADC. Robert W. Baird boosted their target price on shares of Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Stifel Nicolaus boosted their price target on shares of Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley lowered shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price target for the company. in a research report on Friday, July 11th. JMP Securities restated a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Finally, Mizuho reduced their price target on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $80.32.

Agree Realty Stock Up 1.9%

Shares of NYSE:ADC opened at $75.10 on Tuesday. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The firm has a fifty day moving average of $73.56 and a 200 day moving average of $74.23. The firm has a market capitalization of $8.26 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $175.53 million for the quarter, compared to analysts' expectations of $173.95 million. During the same period last year, the firm earned $1.04 earnings per share. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts anticipate that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.256 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, July 31st. Agree Realty's dividend payout ratio (DPR) is 182.74%.

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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