Capital Advisors Ltd. LLC Increases Position in Agree Realty Co. (NYSE:ADC)

Capital Advisors Ltd. LLC raised its position in Agree Realty Co. (NYSE:ADC) by 137.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 466 shares of the real estate investment trust’s stock after purchasing an additional 270 shares during the period. Capital Advisors Ltd. LLC’s holdings in Agree Realty were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Agree Realty by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust’s stock worth $1,025,044,000 after buying an additional 219,806 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of Agree Realty by 43.0% during the 4th quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust’s stock worth $688,108,000 after buying an additional 2,937,147 shares during the last quarter. Invesco Ltd. raised its position in Agree Realty by 85.6% in the 4th quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust’s stock valued at $155,895,000 after purchasing an additional 1,020,512 shares during the last quarter. Geode Capital Management LLC raised its position in Agree Realty by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust’s stock valued at $150,255,000 after purchasing an additional 57,492 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Agree Realty by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust’s stock valued at $115,936,000 after purchasing an additional 57,297 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

NYSE:ADC opened at $74.72 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a fifty-two week low of $60.18 and a fifty-two week high of $79.65. The stock has a market cap of $8.22 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 2.88 and a beta of 0.56. The firm’s fifty day simple moving average is $75.32 and its 200-day simple moving average is $74.00.

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

Agree Realty Dividend Announcement

The business also recently declared a jun 25 dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.256 per share. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 4.1%. Agree Realty’s dividend payout ratio (DPR) is presently 173.45%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Agree Realty from $81.00 to $82.50 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Evercore ISI upped their price target on shares of Agree Realty from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Royal Bank of Canada reduced their price target on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. UBS Group reduced their price target on shares of Agree Realty from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Finally, Robert W. Baird upped their price target on shares of Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.