Quantbot Technologies LP Boosts Stock Position in Agree Realty Corporation $ADC

Key Points

• Quantbot Technologies LP increased its stake in Agree Realty Corporation by 144% in Q1, owning 195,441 shares valued at approximately $15.09 million.
• Several analysts have varying opinions on Agree Realty, with UBS Group raising its price target from $80 to $82 and giving it a "buy" rating, whereas BTIG Research downgraded the stock from "buy" to "neutral".
• Agree Realty announced a monthly dividend of $0.256 per share, with an annualized yield of 4.2%, which will be paid on September 15th.

Quantbot Technologies LP boosted its stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 144.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,441 shares of the real estate investment trust's stock after purchasing an additional 115,344 shares during the quarter. Agree Realty comprises 0.5% of Quantbot Technologies LP's holdings, making the stock its 20th largest holding. Quantbot Technologies LP owned 0.18% of Agree Realty worth $15,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in Agree Realty by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust's stock valued at $365,000 after purchasing an additional 139 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Agree Realty by 61.2% in the first quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust's stock worth $925,000 after acquiring an additional 4,551 shares in the last quarter. AE Wealth Management LLC acquired a new stake in Agree Realty in the first quarter worth about $358,000. Oppenheimer Asset Management Inc. boosted its holdings in Agree Realty by 10.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 21,070 shares of the real estate investment trust's stock worth $1,626,000 after acquiring an additional 1,941 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Agree Realty by 77.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 112,702 shares of the real estate investment trust's stock worth $8,699,000 after acquiring an additional 49,282 shares in the last quarter. Institutional investors own 97.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADC. Truist Financial set a $84.00 price target on Agree Realty in a report on Friday, August 8th. Stifel Nicolaus raised their price target on Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Morgan Stanley downgraded Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price target for the company. in a report on Friday, July 11th. Robert W. Baird raised their price target on Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, UBS Group lifted their target price on Agree Realty from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Agree Realty has an average rating of "Moderate Buy" and an average price target of $80.50.

Insiders Place Their Bets

In other Agree Realty news, CEO Joey Agree acquired 4,108 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $72.15 per share, for a total transaction of $296,392.20. Following the completion of the transaction, the chief executive officer directly owned 633,060 shares of the company's stock, valued at $45,675,279. This represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 6,950 shares of company stock worth $501,296 in the last three months. 1.80% of the stock is currently owned by company insiders.

Agree Realty Stock Performance

ADC stock traded up $0.0430 during trading on Thursday, hitting $73.9330. 504,346 shares of the company traded hands, compared to its average volume of 1,186,400. The stock's 50-day simple moving average is $73.14 and its 200 day simple moving average is $74.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $8.18 billion, a PE ratio of 44.01, a P/E/G ratio of 2.39 and a beta of 0.55. Agree Realty Corporation has a 1 year low of $67.58 and a 1 year high of $79.65.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $175.53 million during the quarter, compared to analysts' expectations of $173.95 million. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.Agree Realty's quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business earned $1.04 earnings per share. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. On average, equities analysts expect that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.256 per share. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, August 29th. Agree Realty's dividend payout ratio (DPR) is currently 182.74%.

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.