Quantbot Technologies LP Increases Holdings in Agree Realty Co. (NYSE:ADC)

Quantbot Technologies LP raised its holdings in shares of Agree Realty Co. (NYSE:ADC) by 134.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,346 shares of the real estate investment trust’s stock after purchasing an additional 55,217 shares during the period. Quantbot Technologies LP’s holdings in Agree Realty were worth $7,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADC. Dana Investment Advisors Inc. raised its holdings in shares of Agree Realty by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 29,274 shares of the real estate investment trust’s stock valued at $1,813,000 after acquiring an additional 170 shares in the last quarter. Capital Square LLC increased its position in Agree Realty by 1.0% during the 2nd quarter. Capital Square LLC now owns 17,995 shares of the real estate investment trust’s stock valued at $1,193,000 after purchasing an additional 179 shares during the period. Blue Trust Inc. raised its holdings in Agree Realty by 8.8% in the 2nd quarter. Blue Trust Inc. now owns 2,634 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 213 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Agree Realty by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,895 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 216 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Agree Realty by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock valued at $4,438,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ADC shares. Truist Financial raised their price objective on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Mizuho lifted their price target on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company decreased their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. KeyCorp boosted their target price on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, BTIG Research lifted their price target on shares of Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.73.

Agree Realty Trading Down 0.1 %

NYSE:ADC opened at $76.41 on Tuesday. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 3.10 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average price is $75.09 and its 200-day moving average price is $69.40. Agree Realty Co. has a 52 week low of $54.28 and a 52 week high of $77.58.

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

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, November 29th. Agree Realty’s dividend payout ratio (DPR) is 167.40%.

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.