Two Sigma Advisers LP Grows Holdings in Agree Realty Co. (NYSE:ADC)

Two Sigma Advisers LP increased its position in Agree Realty Co. (NYSE:ADC - Free Report) by 62.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,157,587 shares of the real estate investment trust's stock after purchasing an additional 443,200 shares during the quarter. Two Sigma Advisers LP owned approximately 1.12% of Agree Realty worth $81,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ADC. Vanguard Group Inc. grew its stake in Agree Realty by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock valued at $1,025,044,000 after buying an additional 219,806 shares during the last quarter. Cohen & Steers Inc. raised its stake in shares of Agree Realty by 43.0% during the fourth quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock valued at $688,108,000 after acquiring an additional 2,937,147 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock valued at $274,693,000 after acquiring an additional 990,362 shares during the last quarter. Invesco Ltd. raised its stake in shares of Agree Realty by 85.6% during the fourth quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock valued at $155,895,000 after acquiring an additional 1,020,512 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Agree Realty by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust's stock worth $150,255,000 after buying an additional 57,492 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Agree Realty Price Performance

NYSE:ADC traded up $0.53 during mid-day trading on Friday, hitting $75.03. 1,002,913 shares of the stock traded hands, compared to its average volume of 1,051,585. The business's 50-day moving average price is $75.57 and its 200 day moving average price is $74.12. The company has a market cap of $8.25 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57. Agree Realty Co. has a 12-month low of $58.52 and a 12-month high of $79.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $169.16 million during the quarter, compared to analysts' expectations 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 in the previous year, the company earned $0.43 earnings per share. On average, analysts expect that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.256 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $3.07 annualized dividend and a yield of 4.09%. This is a boost from Agree Realty's previous monthly dividend of $0.25. Agree Realty's payout ratio is currently 173.45%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADC. Robert W. Baird raised their price target on shares of Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Barclays raised their price target on shares of Agree Realty from $75.00 to $77.00 and gave the company an "equal weight" rating in a research report on Wednesday. Evercore ISI lifted their price objective on shares of Agree Realty from $82.00 to $83.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Truist Financial boosted their price target on shares of Agree Realty from $77.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company boosted their price target on shares of Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Six equities research 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.19.

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.