Quantbot Technologies LP Has $15.09 Million Stock Position in Agree Realty Corporation $ADC

Quantbot Technologies LP raised its stake in Agree Realty Corporation (NYSE:ADC) by 144.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 195,441 shares of the real estate investment trust’s stock after buying an additional 115,344 shares during the quarter. Agree Realty comprises approximately 0.5% of Quantbot Technologies LP’s investment portfolio, making the stock its 20th biggest holding. Quantbot Technologies LP owned 0.18% of Agree Realty worth $15,086,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its holdings in shares of Agree Realty by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 139 shares during the period. Janney Montgomery Scott LLC increased its holdings in Agree Realty by 61.2% in the first quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 4,551 shares during the period. AE Wealth Management LLC acquired a new stake in Agree Realty during the 1st quarter valued at approximately $358,000. Oppenheimer Asset Management Inc. grew its holdings in Agree Realty by 10.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 21,070 shares of the real estate investment trust’s stock worth $1,626,000 after acquiring an additional 1,941 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Agree Realty by 77.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 112,702 shares of the real estate investment trust’s stock worth $8,699,000 after purchasing an additional 49,282 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ADC shares. UBS Group increased their price objective on Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. BTIG Research cut shares of Agree Realty from a “buy” rating to a “neutral” rating in a report on Wednesday, May 7th. Mizuho reduced their price objective on Agree Realty from $81.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, June 16th. Truist Financial set a $84.00 target price on shares of Agree Realty in a report on Friday, August 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Agree Realty has an average rating of “Moderate Buy” and an average price target of $80.61.

Insider Transactions at Agree Realty

In other Agree Realty news, CEO Joey Agree acquired 4,108 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $72.15 per share, with a total value of $296,392.20. Following the purchase, the chief executive officer directly owned 633,060 shares in the company, valued at approximately $45,675,279. This trade represents a 0.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Agree Realty Trading Up 0.7%

Shares of Agree Realty stock opened at $72.64 on Monday. Agree Realty Corporation has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average of $73.24 and a 200 day moving average of $74.26. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 2.36 and a beta of 0.55.

Agree Realty (NYSE:ADC) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. The firm had revenue of $175.53 million during the quarter, compared to the consensus estimate of $173.95 million. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, research analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.256 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is 182.74%.

Agree Realty Company 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.