Agree Realty Corporation (NYSE:ADC) Shares Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 53.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 101,843 shares of the real estate investment trust’s stock after acquiring an additional 35,491 shares during the period. New Age Alpha Advisors LLC’s holdings in Agree Realty were worth $7,861,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADC. Cullen Frost Bankers Inc. acquired a new position in Agree Realty during the 1st quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new position in Agree Realty during the 4th quarter worth about $31,000. Capital Advisors Ltd. LLC lifted its stake in Agree Realty by 137.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 270 shares in the last quarter. Headlands Technologies LLC lifted its stake in Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 235 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in Agree Realty during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Up 1.9%

Shares of NYSE ADC opened at $75.10 on Tuesday. The stock has a market cap of $8.26 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The business has a 50-day moving average price of $73.56 and a 200 day moving average price of $74.23.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Thursday, July 31st. 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 return on equity of 3.47% and a net margin of 28.16%. The company had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $173.95 million. During the same period last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.256 per share. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, July 31st. Agree Realty’s dividend payout ratio (DPR) is presently 182.74%.

Analysts Set New Price Targets

ADC has been the topic of several research reports. Robert W. Baird increased their target price on Agree Realty from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Morgan Stanley downgraded Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price target on the stock. in a report on Friday, July 11th. JMP Securities restated a “market perform” rating on shares of Agree Realty in a report on Monday, June 30th. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Finally, Mizuho cut their price target on Agree Realty from $81.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $80.32.

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.