Fort Washington Investment Advisors Inc. OH Purchases 1,320 Shares of Agree Realty Co. (NYSE:ADC)

Fort Washington Investment Advisors Inc. OH lifted its holdings in Agree Realty Co. (NYSE:ADC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 331,637 shares of the real estate investment trust’s stock after purchasing an additional 1,320 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Agree Realty were worth $20,542,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Agree Realty by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 14,480,463 shares of the real estate investment trust’s stock valued at $827,124,000 after buying an additional 258,217 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Agree Realty by 12.1% in the fourth quarter. Principal Financial Group Inc. now owns 6,660,665 shares of the real estate investment trust’s stock valued at $419,289,000 after acquiring an additional 719,430 shares during the period. Long Pond Capital LP grew its stake in shares of Agree Realty by 489.8% in the first quarter. Long Pond Capital LP now owns 2,868,640 shares of the real estate investment trust’s stock worth $163,857,000 after acquiring an additional 2,382,252 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Agree Realty by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,481,375 shares of the real estate investment trust’s stock worth $93,253,000 after acquiring an additional 105,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Agree Realty by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,409,253 shares of the real estate investment trust’s stock worth $88,714,000 after acquiring an additional 61,020 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

ADC has been the subject of a number of research reports. Truist Financial increased their price target on shares of Agree Realty from $68.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 5th. Mizuho increased their target price on shares of Agree Realty from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. BTIG Research raised their price objective on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada lifted their price objective on Agree Realty from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Agree Realty has an average rating of “Moderate Buy” and a consensus price target of $70.42.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $73.01 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.79 and a quick ratio of 0.79. The business’s fifty day moving average price is $67.88 and its two-hundred day moving average price is $61.50. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $73.53. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 42.95, a price-to-earnings-growth ratio of 2.80 and a beta of 0.58.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.51). Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. The firm had revenue of $152.58 million during the quarter, compared to the consensus estimate of $150.35 million. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, analysts predict that Agree Realty Co. will post 4.11 EPS 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. Stockholders of record on Friday, August 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Friday, August 30th. Agree Realty’s dividend payout ratio (DPR) is currently 176.47%.

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.