Agree Realty Co. (NYSE:ADC) Shares Acquired by Signaturefd LLC

Signaturefd LLC raised its stake in shares of Agree Realty Co. (NYSE:ADC) by 22.8% during the second quarter, HoldingsChannel reports. The firm owned 8,915 shares of the real estate investment trust’s stock after purchasing an additional 1,654 shares during the quarter. Signaturefd LLC’s holdings in Agree Realty were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Massmutual Trust Co. FSB ADV raised its stake in Agree Realty by 248.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 442 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Agree Realty by 247.3% in the first quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 512 shares during the period. GAMMA Investing LLC purchased a new position in shares of Agree Realty in the fourth quarter worth about $44,000. Parallel Advisors LLC lifted its holdings in shares of Agree Realty by 35.9% during the fourth quarter. Parallel Advisors LLC now owns 1,129 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 298 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Agree Realty in the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Up 0.2 %

Shares of ADC opened at $73.01 on Friday. Agree Realty Co. has a 12 month low of $52.69 and a 12 month high of $73.53. The firm has a market cap of $7.35 billion, a P/E ratio of 42.95, a PEG ratio of 2.80 and a beta of 0.58. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $67.88 and its two-hundred day moving average is $61.50.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.51). The company had revenue of $152.58 million for the quarter, compared to analysts’ expectations of $150.35 million. Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. Analysts predict that Agree Realty Co. will post 4.11 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.11%. Agree Realty’s payout ratio is currently 176.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Agree Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Raymond James upped their price target on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 21st. KeyCorp started coverage on Agree Realty in a research note on Wednesday, June 12th. They set an “overweight” rating and a $68.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on Agree Realty from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.42.

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.