11,965 Shares in Agree Realty Co. (NYSE:ADC) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new position in shares of Agree Realty Co. (NYSE:ADC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,965 shares of the real estate investment trust’s stock, valued at approximately $901,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Citigroup Inc. boosted its holdings in shares of Agree Realty by 348.9% during the 3rd quarter. Citigroup Inc. now owns 347,496 shares of the real estate investment trust’s stock worth $26,177,000 after buying an additional 270,093 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Agree Realty by 67.4% during the 2nd quarter. AQR Capital Management LLC now owns 462,868 shares of the real estate investment trust’s stock worth $28,476,000 after buying an additional 186,285 shares during the period. Vanderbilt University boosted its holdings in shares of Agree Realty by 148.9% during the 3rd quarter. Vanderbilt University now owns 16,933 shares of the real estate investment trust’s stock worth $1,276,000 after buying an additional 10,129 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Agree Realty by 40.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 118,306 shares of the real estate investment trust’s stock worth $8,912,000 after buying an additional 33,914 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Agree Realty by 11.4% in the 3rd quarter. Private Advisor Group LLC now owns 4,739 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 485 shares during the period. Institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

ADC stock opened at $74.00 on Wednesday. The company has a 50 day simple moving average of $75.27 and a 200 day simple moving average of $70.60. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 3.68 and a beta of 0.62. Agree Realty Co. has a 1 year low of $54.28 and a 1 year high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) 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 analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. Agree Realty’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. Research analysts anticipate that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 4.10%. The ex-dividend date is Friday, November 29th. Agree Realty’s dividend payout ratio (DPR) is currently 167.96%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ADC shares. UBS Group boosted their price objective on shares of Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada boosted their price objective on shares of Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. KeyCorp boosted their price objective 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. Robert W. Baird boosted their price objective on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company cut their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.04.

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.