Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new position in shares of Agree Realty Co. (NYSE:ADC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,535 shares of the real estate investment trust's stock, valued at approximately $1,354,000.
Other hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Agree Realty during the fourth quarter worth $31,000. Headlands Technologies LLC increased its position 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, Principal Securities Inc. boosted its holdings in 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 valued at $80,000 after acquiring an additional 237 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.
Agree Realty Stock Performance
Shares of NYSE ADC traded up $0.19 during mid-day trading on Monday, hitting $75.49. The company had a trading volume of 345,265 shares, compared to its average volume of 1,057,979. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The business's 50-day simple moving average is $75.52 and its 200-day simple moving average is $74.09. Agree Realty Co. has a 12 month low of $59.66 and a 12 month high of $79.65. The firm has a market cap of $8.31 billion, a P/E ratio of 42.39, a PEG ratio of 2.88 and a beta of 0.57.
Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. The firm had revenue of $169.16 million during the quarter, compared to analyst estimates of $167.77 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. As a group, analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.
Agree Realty Increases Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.256 dividend. This represents a $3.07 annualized dividend and a yield of 4.07%. The ex-dividend date is Friday, May 30th. This is a positive change from Agree Realty's previous monthly dividend of $0.25. Agree Realty's dividend payout ratio is 173.45%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Mizuho upped their price target 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. JMP Securities restated a "market perform" rating on shares of Agree Realty in a report on Friday, May 16th. Evercore ISI upped their price target 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. Barclays set a $77.00 price target on shares of Agree Realty and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus upped their price target on shares of Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued 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.
View Our Latest Stock Analysis on ADC
Agree Realty Profile
(
Free Report)
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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