Agree Realty Co. (NYSE:ADC) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC reduced its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,902 shares of the real estate investment trust's stock after selling 125,211 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Agree Realty were worth $1,473,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADC. Northern Trust Corp lifted its position in shares of Agree Realty by 89.2% in the 4th quarter. Northern Trust Corp now owns 1,523,280 shares of the real estate investment trust's stock worth $107,315,000 after purchasing an additional 718,114 shares during the period. Quarry LP bought a new position in shares of Agree Realty in the fourth quarter valued at approximately $52,000. Boothbay Fund Management LLC purchased a new position in Agree Realty during the fourth quarter worth about $6,072,000. Nebula Research & Development LLC bought a new position in Agree Realty in the 4th quarter valued at $976,000. Finally, Voya Investment Management LLC raised its position in Agree Realty by 56.2% in the fourth quarter. Voya Investment Management LLC now owns 20,130 shares of the real estate investment trust's stock worth $1,418,000 after acquiring an additional 7,246 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Price Performance

Shares of NYSE:ADC traded up $0.17 during trading on Friday, reaching $75.15. 1,261,718 shares of the company's stock traded hands, compared to its average volume of 1,028,167. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm 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 has a 50-day simple moving average of $75.92 and a 200-day simple moving average of $74.13. Agree Realty Co. has a fifty-two week low of $58.52 and a fifty-two week high of $79.65.

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 for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $169.16 million for the quarter, compared to analyst estimates of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same period in the previous year, the business posted $0.43 EPS. As a group, analysts predict that Agree Realty Co. will post 4.27 earnings per share 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 given a $0.256 dividend. The ex-dividend date is Wednesday, April 30th. This is a boost from Agree Realty's previous apr 25 dividend of $0.25. This represents a yield of 4.1%. Agree Realty's payout ratio is 173.45%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ADC shares. Truist Financial lifted their price objective on shares of Agree Realty from $77.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Stifel Nicolaus lifted 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. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a research note on Wednesday, April 30th. Mizuho lifted their target price on shares of Agree Realty from $74.00 to $81.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, StockNews.com upgraded Agree Realty from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.