Aptus Capital Advisors LLC Increases Holdings in Agree Realty Co. (NYSE:ADC)

Aptus Capital Advisors LLC increased its stake in shares of Agree Realty Co. (NYSE:ADC) by 24.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,259 shares of the real estate investment trust’s stock after buying an additional 8,992 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Agree Realty were worth $2,803,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Agree Realty during the fourth quarter worth approximately $71,409,000. Scout Investments Inc. lifted its position in Agree Realty by 34.1% during the fourth quarter. Scout Investments Inc. now owns 844,367 shares of the real estate investment trust’s stock worth $53,153,000 after buying an additional 214,840 shares in the last quarter. Swiss National Bank lifted its position in Agree Realty by 4.6% during the first quarter. Swiss National Bank now owns 198,382 shares of the real estate investment trust’s stock worth $11,332,000 after buying an additional 8,700 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Agree Realty by 35.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,079 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 1,074 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Agree Realty by 1.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 886,527 shares of the real estate investment trust’s stock valued at $50,638,000 after purchasing an additional 12,159 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus lifted their target price on Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Royal Bank of Canada lifted their target price on Agree Realty from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. BTIG Research lifted their target price on Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company lifted their target price on Agree Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Agree Realty has an average rating of “Moderate Buy” and a consensus target price of $70.42.

Agree Realty Trading Up 0.2 %

Shares of NYSE ADC opened at $73.01 on Monday. Agree Realty Co. has a twelve month low of $52.69 and a twelve month high of $73.53. The stock has a market capitalization of $7.35 billion, a PE ratio of 42.95, a PEG ratio of 2.44 and a beta of 0.58. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $67.88 and a 200-day simple moving average of $61.56.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.51). Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. The company had revenue of $152.58 million for the quarter, compared to analyst estimates of $150.35 million. During the same period in the previous year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts forecast that Agree Realty Co. will post 4.12 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 30th. This represents a $3.00 annualized dividend and a yield of 4.11%. Agree Realty’s payout ratio is 176.47%.

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.