17,990 Shares in Agree Realty Co. (NYSE:ADC) Bought by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership bought a new stake in Agree Realty Co. (NYSE:ADC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,990 shares of the real estate investment trust’s stock, valued at approximately $1,257,000. Agree Realty accounts for about 0.7% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 18th largest position.

Several other large investors also recently modified their holdings of ADC. Commonwealth Equity Services LLC lifted its position in shares of Agree Realty by 3.2% in the second 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 in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Agree Realty by 15.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,869 shares of the real estate investment trust’s stock worth $921,000 after buying an additional 2,028 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Agree Realty by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,522,014 shares of the real estate investment trust’s stock worth $94,273,000 after buying an additional 76,818 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Agree Realty by 73.6% in the 2nd quarter. Renaissance Technologies LLC now owns 151,000 shares of the real estate investment trust’s stock valued at $9,353,000 after acquiring an additional 64,000 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Agree Realty by 37.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,756 shares of the real estate investment trust’s stock worth $790,000 after acquiring an additional 3,483 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADC. JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Evercore ISI initiated coverage on shares of Agree Realty in a research note on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price target for the company. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada reduced their price target on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.53.

Agree Realty Stock Up 2.1 %

Shares of ADC opened at $72.17 on Friday. The firm has a 50 day simple moving average of $73.32 and a two-hundred day simple moving average of $72.35. 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 Co. has a one year low of $54.28 and a one year high of $78.39. The company has a market cap of $7.47 billion, a P/E ratio of 39.88, a P/E/G ratio of 2.41 and a beta of 0.64.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The business 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 quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. Research analysts forecast that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.253 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.21%. Agree Realty’s payout ratio is currently 167.96%.

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.