Tudor Investment Corp ET AL Sells 76,572 Shares of Agree Realty Co. (NYSE:ADC)

Tudor Investment Corp ET AL cut its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,075 shares of the real estate investment trust's stock after selling 76,572 shares during the period. Tudor Investment Corp ET AL owned about 0.18% of Agree Realty worth $13,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Agree Realty by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock worth $1,025,044,000 after purchasing an additional 219,806 shares during the last quarter. Cohen & Steers Inc. lifted its position in Agree Realty by 43.0% during the 4th quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock worth $688,108,000 after buying an additional 2,937,147 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 worth $274,693,000 after acquiring an additional 990,362 shares during the last quarter. Invesco Ltd. increased its position in Agree Realty by 85.6% in the 4th quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock valued at $155,895,000 after acquiring an additional 1,020,512 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Agree Realty by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust's stock worth $150,255,000 after acquiring an additional 57,492 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Trading Down 0.8 %

Shares of Agree Realty stock traded down $0.63 during trading hours on Friday, hitting $76.29. The company's stock had a trading volume of 1,189,897 shares, compared to its average volume of 1,018,027. The company has a market capitalization of $8.39 billion, a PE ratio of 42.86, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a 50 day moving average of $75.71 and a 200 day moving average of $74.12. Agree Realty Co. has a 12 month low of $58.07 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. The firm had revenue of $169.16 million for the quarter, compared to the consensus estimate 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 last year, the company posted $0.43 EPS. 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 announced a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $0.256 dividend. The ex-dividend date is Wednesday, April 30th. This is a positive change from Agree Realty's previous apr 25 dividend of $0.25. This represents a yield of 4.1%. Agree Realty's dividend payout ratio is presently 173.45%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, April 25th. UBS Group raised Agree Realty from a "neutral" rating to a "buy" rating and upped their price target for the company from $79.00 to $84.00 in a research note on Monday, January 6th. StockNews.com raised shares of Agree Realty from a "sell" rating to a "hold" rating in a research note on Saturday. Evercore ISI boosted their price target on shares of Agree Realty from $82.00 to $83.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Stifel Nicolaus raised their price objective 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. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.88.

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.