Tidal Investments LLC Cuts Holdings in Agree Realty Co. (NYSE:ADC)

Tidal Investments LLC decreased its position in Agree Realty Co. (NYSE:ADC) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,816 shares of the real estate investment trust’s stock after selling 432 shares during the period. Tidal Investments LLC’s holdings in Agree Realty were worth $363,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ADC. MCF Advisors LLC purchased a new stake in shares of Agree Realty during the second quarter valued at approximately $26,000. Headlands Technologies LLC raised its stake 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 purchasing an additional 798 shares during the period. 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 worth $73,000 after buying an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Agree Realty during the third quarter valued at about $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Agree Realty during the third quarter worth about $77,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Up 0.2 %

ADC opened at $70.29 on Tuesday. The firm has a market capitalization of $7.28 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 3.66 and a beta of 0.62. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. The company has a fifty day moving average price of $74.95 and a 200-day moving average price of $71.35. 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 (NYSE:ADC) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business had revenue of $154.33 million for the quarter, compared to analysts’ expectations of $152.83 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Agree Realty’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts expect that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Agree Realty’s dividend payout ratio is currently 167.40%.

Analyst Ratings Changes

ADC has been the topic of a number of research analyst reports. Truist Financial boosted their target price on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BTIG Research increased their price objective on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Finally, StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $78.03.

About Agree Realty

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.