Quantinno Capital Management LP Purchases 4,311 Shares of Agree Realty Co. (NYSE:ADC)

Quantinno Capital Management LP boosted its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 71.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,326 shares of the real estate investment trust's stock after buying an additional 4,311 shares during the period. Quantinno Capital Management LP's holdings in Agree Realty were worth $727,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ADC. Bernard Wealth Management Corp. acquired a new position in Agree Realty during the fourth quarter worth $31,000. Headlands Technologies LLC raised its holdings in Agree Realty by 72.8% during 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 last quarter. Financial Life Planners acquired a new position in Agree Realty during the fourth quarter worth $44,000. Quarry LP acquired a new position in Agree Realty during the fourth quarter worth $52,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Agree Realty by 34.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock worth $63,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ADC shares. Wells Fargo & Company upped their price objective on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Evercore ISI increased their target price on shares of Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. JMP Securities reiterated a "market perform" rating on shares of Agree Realty in a report on Friday, May 16th. Truist Financial increased their target price on shares of Agree Realty from $77.00 to $82.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Mizuho increased their target price on shares of Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.19.

Agree Realty Stock Performance

NYSE ADC traded down $1.02 during trading hours on Thursday, reaching $74.30. 480,128 shares of the company were exchanged, compared to its average volume of 1,052,191. Agree Realty Co. has a 1 year low of $58.52 and a 1 year high of $79.65. The business's 50 day simple moving average is $75.54 and its 200-day simple moving average is $74.14. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $8.17 billion, a P/E ratio of 41.88, a P/E/G ratio of 2.88 and a beta of 0.57.

Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.01. The firm had revenue of $169.16 million during the quarter, compared to the consensus estimate of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same quarter last year, the company earned $0.43 earnings per share. On average, equities research analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.256 dividend. This is an increase from Agree Realty's previous monthly dividend of $0.25. The ex-dividend date of this dividend is Friday, May 30th. This represents a $3.07 annualized dividend and a dividend yield of 4.13%. Agree Realty's dividend payout ratio (DPR) is presently 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.