Agree Realty Co. (NYSE:ADC) Stock Position Boosted by Systematic Financial Management LP

Systematic Financial Management LP increased its position in Agree Realty Co. (NYSE:ADC - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 327,760 shares of the real estate investment trust's stock after purchasing an additional 14,016 shares during the quarter. Systematic Financial Management LP owned 0.32% of Agree Realty worth $23,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Agree Realty in the 4th quarter valued at about $31,000. Headlands Technologies LLC lifted its stake in shares of Agree Realty by 72.8% in 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 in the last quarter. Financial Life Planners purchased a new position in Agree Realty in the fourth quarter valued at about $44,000. Quarry LP purchased a new position in Agree Realty in the fourth quarter valued at about $52,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake 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 valued at $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.

Agree Realty Stock Performance

ADC stock traded up $0.09 during midday trading on Tuesday, reaching $75.79. The company had a trading volume of 921,526 shares, compared to its average volume of 1,046,211. The firm has a market capitalization of $8.34 billion, a PE ratio of 42.58, a P/E/G ratio of 2.88 and a beta of 0.57. The stock has a 50 day moving average price of $75.70 and a 200 day moving average price of $74.10. Agree Realty Co. has a fifty-two week low of $58.52 and a fifty-two week high of $79.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $169.16 million during the quarter, compared to analyst estimates 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 previous year, the firm posted $0.43 EPS. Analysts anticipate 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. Stockholders of record on Friday, May 30th will be issued a dividend of $0.256 per share. This represents a $3.07 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, May 30th. This is a boost from Agree Realty's previous monthly dividend of $0.25. Agree Realty's payout ratio is 173.45%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADC. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $74.00 to $75.00 in a research note on Tuesday, March 4th. Mizuho increased their price objective on shares of Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Truist Financial raised their price objective on shares of Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, May 5th. UBS Group cut their target price on shares of Agree Realty from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, BTIG Research cut shares of Agree Realty from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Agree Realty presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.04.

About Agree Realty

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.