31,113 Shares in Agree Realty Co. (NYSE:ADC) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 31,113 shares of the real estate investment trust's stock, valued at approximately $2,192,000.

A number of other institutional investors have also added to or reduced their stakes in ADC. Barclays PLC lifted 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 worth $18,062,000 after buying an additional 135,274 shares in the last quarter. World Investment Advisors LLC bought a new stake in Agree Realty during the 3rd quarter worth approximately $211,000. Wilmington Savings Fund Society FSB purchased a new stake in Agree Realty in the 3rd quarter worth approximately $77,000. Franklin Resources Inc. boosted its holdings in Agree Realty by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 66,153 shares of the real estate investment trust's stock valued at $4,917,000 after purchasing an additional 5,039 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock valued at $274,693,000 after purchasing an additional 990,362 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Trading Up 0.0 %

NYSE:ADC traded up $0.03 during midday trading on Monday, reaching $76.39. 1,237,243 shares of the stock traded hands, compared to its average volume of 1,020,448. The stock has a market capitalization of $8.40 billion, a P/E ratio of 42.92, a PEG ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a 12 month low of $58.18 and a 12 month 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 has a fifty day moving average of $75.71 and a 200 day moving average of $74.09.

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. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. The company had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. During the same period last year, the firm earned $0.43 earnings per share. On average, research analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Increases Dividend

The business also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $0.256 dividend. The ex-dividend date is Wednesday, April 30th. This represents a yield of 4.1%. This is a boost from Agree Realty's previous apr 25 dividend of $0.25. Agree Realty's payout ratio is 173.45%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Robert W. Baird boosted their price objective on Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. StockNews.com raised shares of Agree Realty from a "sell" rating to a "hold" rating in a research note on Saturday. UBS Group raised shares of Agree Realty from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, Truist Financial raised their price objective on shares of Agree Realty from $77.00 to $82.00 and gave the company a "buy" rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $81.04.

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.