2,795 Shares in Agree Realty Co. (NYSE:ADC) Acquired by World Investment Advisors LLC

World Investment Advisors LLC acquired a new stake in Agree Realty Co. (NYSE:ADC) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,795 shares of the real estate investment trust’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently made changes to their positions in the stock. MCF Advisors LLC purchased a new position in shares of Agree Realty in the second quarter worth $26,000. Headlands Technologies LLC grew its holdings in Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 798 shares during the last quarter. UMB Bank n.a. increased its position in shares of Agree Realty by 44.5% in the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 299 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Agree Realty during the third quarter valued at about $75,000. Finally, Vestcor Inc purchased a new stake in shares of Agree Realty during the third quarter worth about $111,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADC. Barclays began coverage on Agree Realty in a report on Tuesday. They set an “underweight” rating and a $76.00 price target on the stock. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday. Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price objective on the stock. Finally, Robert W. Baird raised their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned 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 target price of $78.03.

Agree Realty Price Performance

Shares of NYSE ADC opened at $69.44 on Friday. The company has a 50 day simple moving average of $75.10 and a two-hundred day simple moving average of $71.09. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 3.66 and a beta of 0.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The company had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. Analysts expect that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently declared 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 4.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Agree Realty’s payout ratio is 167.40%.

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.