Two Sigma Advisers LP Raises Position in Agree Realty Co. (NYSE:ADC)

Two Sigma Advisers LP raised its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 62.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 1.12% of Agree Realty worth $81,552,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Agree Realty by 129.4% in the third quarter. Barclays PLC now owns 239,783 shares of the real estate investment trust's stock valued at $18,062,000 after acquiring an additional 135,274 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Agree Realty by 37.3% in 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 in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Agree Realty by 39.3% in the fourth quarter. Park Avenue Securities LLC now owns 6,893 shares of the real estate investment trust's stock valued at $486,000 after acquiring an additional 1,943 shares in the last quarter. Community Bank of Raymore grew its holdings in shares of Agree Realty by 6.3% in the fourth quarter. Community Bank of Raymore now owns 44,005 shares of the real estate investment trust's stock valued at $3,100,000 after acquiring an additional 2,605 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 168 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADC has been the subject of several recent analyst reports. Mizuho upped their target price on Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. StockNews.com lowered Agree Realty from a "hold" rating to a "sell" rating in a report on Sunday, May 11th. JMP Securities reaffirmed a "market perform" rating on shares of Agree Realty in a report on Friday. Evercore ISI increased their price objective on Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.04.

Agree Realty Trading Up 1.3%

NYSE:ADC opened at $74.89 on Monday. The company has a market cap of $8.24 billion, a P/E ratio of 42.07, a P/E/G ratio of 2.88 and a beta of 0.57. The stock's fifty day moving average price is $75.69 and its two-hundred day moving average price is $74.08. Agree Realty Co. has a 1 year low of $58.52 and a 1 year high of $79.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

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 (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. The firm had revenue of $169.16 million for the quarter, compared to the consensus estimate of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same quarter in the prior year, the business posted $0.43 earnings per share. As a group, analysts expect that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given 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 dividend yield of 4.10%. This is an increase from Agree Realty's previous monthly dividend of $0.25. Agree Realty's dividend payout ratio is currently 173.45%.

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.

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