Hudson Bay Capital Management LP boosted its position in Agree Realty Co. (NYSE:ADC - Free Report) by 170.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,349 shares of the real estate investment trust's stock after purchasing an additional 228,470 shares during the period. Hudson Bay Capital Management LP owned about 0.35% of Agree Realty worth $25,527,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in shares of Agree Realty during the 4th quarter worth $31,000. Headlands Technologies LLC raised 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 acquiring an additional 235 shares during the last quarter. Financial Life Planners acquired a new position in Agree Realty during the fourth quarter worth about $44,000. Quarry LP acquired a new stake in shares of Agree Realty in the fourth quarter valued at approximately $52,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. StockNews.com downgraded Agree Realty from a "hold" rating to a "sell" rating in a research report on Sunday. Stifel Nicolaus boosted their target price on shares of 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 raised their price target on shares of Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. BTIG Research downgraded shares of Agree Realty from a "buy" rating to a "neutral" rating in a report on Wednesday. Finally, Mizuho raised their target price on shares of Agree Realty from $74.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.04.
Check Out Our Latest Stock Analysis on ADC
Agree Realty Stock Performance
Shares of ADC stock opened at $75.15 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market cap of $8.27 billion, a PE ratio of 42.22, a P/E/G ratio of 2.88 and a beta of 0.57. The company's fifty day simple moving average is $75.92 and its 200-day simple moving average is $74.11. Agree Realty Co. has a 52 week low of $58.52 and a 52 week high of $79.65.
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, topping 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 company had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. As a group, equities research analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current year.
Agree Realty Increases Dividend
The company also recently disclosed a apr 25 dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a $0.256 dividend. This is an increase from Agree Realty's previous apr 25 dividend of $0.25. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a yield of 4.1%. Agree Realty's dividend payout ratio (DPR) is 173.45%.
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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