Total Wealth Planning & Management Inc. Acquires Shares of 5,364 Agree Realty Co. (NYSE:ADC)

Total Wealth Planning & Management Inc. acquired a new stake in shares of Agree Realty Co. (NYSE:ADC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,364 shares of the real estate investment trust’s stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Agree Realty during the fourth quarter valued at approximately $31,000. Headlands Technologies LLC raised its position in Agree Realty by 72.8% during the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 235 shares during the period. Financial Life Planners purchased a new stake in Agree Realty during the fourth quarter valued at approximately $44,000. Quarry LP purchased a new stake in Agree Realty during the fourth quarter valued at approximately $52,000. Finally, Principal Securities Inc. raised its position in Agree Realty by 26.2% during the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 237 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Stock Up 0.7%

Shares of NYSE ADC opened at $75.03 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $8.25 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57. The stock’s fifty day simple moving average is $75.56 and its two-hundred day simple moving average is $74.12. Agree Realty Co. has a 12-month low of $58.52 and a 12-month high of $79.65.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. The business had revenue of $169.16 million for the quarter, compared to analysts’ expectations of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same quarter last year, the firm earned $0.43 EPS. As a group, analysts expect that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.256 per share. This represents a $3.07 annualized dividend and a yield of 4.09%. The ex-dividend date is Friday, May 30th. This is a boost from Agree Realty’s previous monthly dividend of $0.25. Agree Realty’s dividend payout ratio (DPR) is 173.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JMP Securities restated a “market perform” rating on shares of Agree Realty in a research report on Friday, May 16th. Wall Street Zen raised Agree Realty from a “sell” rating to a “hold” rating in a research note on Monday, May 19th. Truist Financial increased their price objective on Agree Realty from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Barclays set a $77.00 price objective on Agree Realty and gave the stock an “equal weight” rating in a research note on Wednesday, May 21st. Finally, BTIG Research cut Agree Realty from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.19.

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.