Quantbot Technologies LP Decreases Stake in Agree Realty Co. (NYSE:ADC)

Quantbot Technologies LP lessened its stake in Agree Realty Co. (NYSE:ADC) by 16.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 80,097 shares of the real estate investment trust’s stock after selling 16,249 shares during the quarter. Quantbot Technologies LP’s holdings in Agree Realty were worth $5,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in Agree Realty by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 153 shares in the last quarter. Carmel Capital Partners LLC increased its stake in Agree Realty by 2.5% in the 4th quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 167 shares in the last quarter. UMB Bank n.a. raised its holdings in Agree Realty by 17.3% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 168 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Agree Realty by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 169 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in Agree Realty by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock valued at $346,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the topic of several recent research reports. Evercore ISI began coverage on shares of Agree Realty in a research report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective on the stock. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Barclays upgraded Agree Realty from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $74.00 to $75.00 in a research report on Tuesday, March 4th. JMP Securities cut Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Finally, BTIG Research lifted their price target on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.85.

Agree Realty Stock Down 1.0 %

Shares of NYSE ADC opened at $75.48 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $8.10 billion, a PE ratio of 42.40, a P/E/G ratio of 2.88 and a beta of 0.64. The firm has a fifty day moving average of $73.32 and a 200-day moving average of $73.90. Agree Realty Co. has a 52-week low of $54.78 and a 52-week high of $78.39.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. On average, analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a yield of 4.02%. Agree Realty’s payout ratio is 170.22%.

About Agree Realty

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.