3,458 Shares in Agree Realty Co. (NYSE:ADC) Acquired by Caprock Group LLC

Caprock Group LLC purchased a new position in shares of Agree Realty Co. (NYSE:ADC) during the third quarter, HoldingsChannel reports. The institutional investor purchased 3,458 shares of the real estate investment trust’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. MCF Advisors LLC acquired a new position in shares of Agree Realty during the 2nd quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its position in Agree Realty by 248.3% during 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 during the last quarter. UMB Bank n.a. boosted its holdings in shares of Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Agree Realty during the 3rd quarter valued at $75,000. Finally, Headlands Technologies LLC increased 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 worth $71,000 after buying an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ADC. KeyCorp boosted their price target on Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Truist Financial increased their target price on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on shares of Agree Realty from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. BTIG Research increased their price objective on shares of Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.73.

Agree Realty Stock Performance

Shares of ADC opened at $76.45 on Monday. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 3.13 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $75.10 and its two-hundred day moving average is $69.20. Agree Realty Co. has a 52-week low of $54.28 and a 52-week high of $77.58.

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

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty’s dividend payout ratio is currently 167.96%.

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.