Agree Realty Co. (NYSE:ADC) Stake Raised by Versant Capital Management Inc

Versant Capital Management Inc raised its holdings in shares of Agree Realty Co. (NYSE:ADC) by 230.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420 shares of the real estate investment trust’s stock after acquiring an additional 293 shares during the quarter. Versant Capital Management Inc’s holdings in Agree Realty were worth $30,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Headlands Technologies LLC lifted its holdings in shares of Agree Realty by 232.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 798 shares during the last quarter. UMB Bank n.a. raised its position in Agree Realty by 44.5% during the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Agree Realty in the third quarter valued at approximately $75,000. Wilmington Savings Fund Society FSB bought a new stake in Agree Realty in the third quarter worth approximately $77,000. Finally, Vestcor Inc acquired a new position in shares of Agree Realty during the 3rd quarter worth $111,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Evercore ISI began coverage on Agree Realty in a research note on Thursday, December 12th. They set an “outperform” rating and a $82.00 price target for the company. BTIG Research raised their price objective on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.93.

Agree Realty Price Performance

Agree Realty stock opened at $69.98 on Wednesday. The business has a 50 day simple moving average of $73.87 and a 200 day simple moving average of $72.08. The company has a market capitalization of $7.24 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The firm had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. On average, sell-side analysts forecast that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Tuesday, December 31st. Agree Realty’s dividend payout ratio is currently 167.40%.

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.