Walleye Capital LLC acquired a new stake in Agree Realty Co. (NYSE:ADC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,264 shares of the real estate investment trust's stock, valued at approximately $371,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 293 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Agree Realty in the 4th quarter valued at approximately $31,000. Headlands Technologies LLC lifted its holdings in shares of Agree Realty by 72.8% in the 4th 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 stake in Agree Realty in the 4th quarter valued at approximately $44,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Agree Realty by 34.4% in the fourth 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 during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.
Agree Realty Stock Down 0.2 %
ADC traded down $0.17 on Wednesday, reaching $76.91. The company's stock had a trading volume of 185,759 shares, compared to its average volume of 1,009,020. 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 Co. has a fifty-two week low of $57.02 and a fifty-two week high of $79.65. The stock has a 50 day moving average of $75.49 and a two-hundred day moving average of $74.08. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 2.88 and a beta of 0.55.
Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. The firm had revenue of $169.16 million for the quarter, compared to the consensus estimate of $167.77 million. During the same period last year, the firm posted $0.43 EPS. As a group, analysts forecast that Agree Realty Co. will post 4.27 EPS for the current fiscal year.
Agree Realty Increases Dividend
The company also recently disclosed a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $0.256 dividend. This is an increase from Agree Realty's previous apr 25 dividend of $0.25. This represents a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 30th. Agree Realty's dividend payout ratio is presently 173.45%.
Wall Street Analyst Weigh In
ADC has been the subject of several research analyst reports. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $74.00 to $75.00 in a research report on Tuesday, March 4th. Royal Bank of Canada cut their price target on shares of Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. StockNews.com lowered shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Robert W. Baird upped their target price 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. Finally, Mizuho raised their price target on shares of Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.88.
Check Out Our Latest Report on Agree Realty
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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