Agree Realty Co. (NYSE:ADC) Stock Holdings Increased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Agree Realty Co. (NYSE:ADC) by 37.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,756 shares of the real estate investment trust’s stock after acquiring an additional 3,483 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Agree Realty were worth $790,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ADC. MCF Advisors LLC bought a new stake in shares of Agree Realty in the 2nd quarter worth $26,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Agree Realty by 248.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 442 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 in the last quarter. Parallel Advisors LLC raised its stake in shares of 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 in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 798 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Down 0.5 %

NYSE:ADC opened at $74.62 on Wednesday. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 2.54 and a beta of 0.61. Agree Realty Co. has a 1-year low of $52.69 and a 1-year high of $77.30. 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 business’s fifty day moving average price is $72.23 and its 200 day moving average price is $63.77.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.51). The business had revenue of $152.58 million for the quarter, compared to analyst estimates of $150.35 million. Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, sell-side analysts forecast that Agree Realty Co. will post 4.11 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a yield of 4.02%. The ex-dividend date is Monday, September 30th. Agree Realty’s payout ratio is 176.47%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on Agree Realty from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus lifted their target price on Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group upped their target price on Agree Realty from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Raymond James upped their target price on Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company upped their target price on Agree Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.96.

Agree Realty Company 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.