Agree Realty Co. (NYSE:ADC) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP grew its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 928,033 shares of the real estate investment trust's stock after purchasing an additional 133,392 shares during the period. Two Sigma Investments LP owned approximately 0.90% of Agree Realty worth $65,380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new position in Agree Realty during the 4th quarter worth approximately $31,000. Headlands Technologies LLC increased its position in Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 235 shares during the period. Financial Life Planners acquired a new position in Agree Realty during the 4th quarter worth approximately $44,000. Quarry LP acquired a new position in Agree Realty during the 4th quarter worth approximately $52,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock worth $63,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 97.83% of the company's stock.

Agree Realty Price Performance

ADC stock traded up $0.53 on Friday, reaching $75.03. The company had a trading volume of 1,002,913 shares, compared to its average volume of 1,053,770. 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 quick ratio of 0.78 and a current ratio of 0.78. The company's fifty day moving average is $75.57 and its 200 day moving average is $74.12. The company has a market cap of $8.25 billion, a P/E ratio of 42.15, a PEG 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 (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 analyst estimates of $167.77 million. During the same quarter in the prior year, the company earned $0.43 EPS. On average, research analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.256 dividend. The ex-dividend date is Friday, May 30th. This is an increase from Agree Realty's previous monthly dividend of $0.25. This represents a $3.07 annualized dividend and a yield of 4.09%. Agree Realty's payout ratio is 173.45%.

Analyst Upgrades and Downgrades

ADC has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Robert W. Baird boosted their price target on Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Stifel Nicolaus boosted their price target on Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company boosted their price target on Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Finally, Wall Street Zen raised Agree Realty from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. 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 stock. According to MarketBeat.com, Agree Realty presently has an average rating of "Moderate Buy" and an average price target of $81.19.

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.