Total Wealth Planning & Management Inc. Buys Shares of 5,364 Agree Realty Co. (NYSE:ADC)

Total Wealth Planning & Management Inc. purchased a new stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,364 shares of the real estate investment trust's stock, valued at approximately $378,000.

Several other hedge funds have also added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Agree Realty during the fourth quarter worth $31,000. Headlands Technologies LLC lifted its holdings in shares of 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 in the last quarter. Financial Life Planners acquired a new stake in shares of Agree Realty during the fourth quarter worth $44,000. Quarry LP acquired a new stake in shares of Agree Realty during the fourth quarter worth $52,000. Finally, Principal Securities Inc. lifted its holdings in shares of Agree Realty by 26.2% during the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust's stock worth $80,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADC shares. Wells Fargo & Company lifted their target price on Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. BTIG Research downgraded Agree Realty from a "buy" rating to a "neutral" rating in a report on Wednesday, May 7th. Robert W. Baird boosted 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. Barclays set a $77.00 price target on Agree Realty and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus boosted their price target on Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Agree Realty presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.19.

Agree Realty Price Performance

Agree Realty stock traded down $0.89 during midday trading on Thursday, reaching $74.42. The company's stock had a trading volume of 1,764,872 shares, compared to its average volume of 1,057,737. Agree Realty Co. has a 52 week low of $59.36 and a 52 week high of $79.65. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $75.52 and a 200-day moving average price of $74.13. The stock has a market cap of $8.19 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, April 22nd. 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 3.70% and a net margin of 30.66%. The firm had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, sell-side analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.256 per share. This is a boost from Agree Realty's previous monthly dividend of $0.25. This represents a $3.07 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, May 30th. Agree Realty's payout ratio is 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.