413 Shares in Agree Realty Co. (NYSE:ADC) Purchased by MCF Advisors LLC

MCF Advisors LLC acquired a new stake in Agree Realty Co. (NYSE:ADC) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 413 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Several other institutional investors have also added to or reduced their stakes in ADC. Massmutual Trust Co. FSB ADV increased its stake in shares of Agree Realty by 248.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 442 shares in the last quarter. UMB Bank n.a. boosted its holdings in Agree Realty by 247.3% in the 1st quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 512 shares during the period. Parallel Advisors LLC boosted its holdings in Agree Realty by 35.9% in the 4th quarter. Parallel Advisors LLC now owns 1,129 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 298 shares during the period. Principal Securities Inc. purchased a new position in Agree Realty in the 4th quarter valued at approximately $80,000. Finally, GAMMA Investing LLC raised its holdings in Agree Realty by 125.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,403 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 782 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADC. Raymond James raised their price target on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 21st. Truist Financial lifted their target price on Agree Realty from $68.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. UBS Group boosted their price objective on shares of Agree Realty from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Stifel Nicolaus upped their target price on shares of Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five equities 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. Based on data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and an average target price of $70.42.

Agree Realty Stock Up 0.2 %

ADC opened at $75.03 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $68.89 and its 200 day simple moving average is $61.97. Agree Realty Co. has a 52 week low of $52.69 and a 52 week high of $75.55. The stock has a market cap of $7.55 billion, a PE ratio of 44.14, a P/E/G ratio of 2.44 and a beta of 0.58.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.51). The firm had revenue of $152.58 million for the quarter, compared to analysts’ expectations of $150.35 million. Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, research analysts expect that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.00%. Agree Realty’s dividend payout ratio (DPR) 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.