Agree Realty Co. (NYSE:ADC) Shares Bought by Vanderbilt University

Vanderbilt University grew its position in Agree Realty Co. (NYSE:ADC) by 148.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,933 shares of the real estate investment trust’s stock after acquiring an additional 10,129 shares during the quarter. Vanderbilt University’s holdings in Agree Realty were worth $1,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. MCF Advisors LLC acquired a new stake in Agree Realty during the 2nd quarter worth $26,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Agree Realty by 248.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 442 shares during the period. UMB Bank n.a. grew its holdings in shares of Agree Realty by 44.5% during the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 299 shares during the last quarter. Headlands Technologies LLC increased its position in Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 798 shares during the period. Finally, GAMMA Investing LLC raised its stake in Agree Realty by 125.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,403 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 782 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADC has been the topic of several analyst reports. Truist Financial lifted their target price on Agree Realty from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, August 5th. BTIG Research lifted their price objective 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. KeyCorp upped their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. UBS Group boosted their price target on shares of Agree Realty from $72.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $80.00 price objective (up previously from $77.00) on shares of Agree Realty in a research report on Tuesday, October 1st. Four 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 stock. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.88.

Agree Realty Price Performance

ADC stock traded down $0.06 during midday trading on Monday, hitting $74.97. 112,920 shares of the stock were exchanged, compared to its average volume of 957,328. The stock’s 50-day moving average price is $74.53 and its 200-day moving average price is $66.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 44.14, a PEG ratio of 2.47 and a beta of 0.61. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $77.47.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). The firm 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 3.72% and a net margin of 32.08%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. Research analysts predict that Agree Realty Co. will post 4.11 earnings per share for the current year.

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.253 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.04 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. Agree Realty’s dividend payout ratio is presently 178.24%.

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.