Aptus Capital Advisors LLC Grows Holdings in Agree Realty Co. (NYSE:ADC)

Aptus Capital Advisors LLC raised its position in Agree Realty Co. (NYSE:ADC) by 15.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,315 shares of the real estate investment trust’s stock after purchasing an additional 7,056 shares during the period. Aptus Capital Advisors LLC owned about 0.05% of Agree Realty worth $3,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Long Pond Capital LP lifted its holdings in shares of Agree Realty by 489.8% during the 1st 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 period. Pathway Financial Advisers LLC increased its position in Agree Realty by 9,118.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock worth $92,487,000 after purchasing an additional 1,214,437 shares in the last quarter. PGGM Investments acquired a new stake in Agree Realty during the 2nd quarter worth approximately $70,225,000. Daiwa Securities Group Inc. increased its position in Agree Realty by 55.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust’s stock worth $112,453,000 after purchasing an additional 650,921 shares in the last quarter. Finally, Leeward Investments LLC MA acquired a new stake in Agree Realty during the 2nd quarter worth approximately $30,306,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Stock Performance

Shares of ADC opened at $76.65 on Thursday. The business’s fifty day moving average price is $75.00 and its 200 day moving average price is $68.30. Agree Realty Co. has a 12-month low of $54.28 and a 12-month high of $77.47. The stock has a market capitalization of $7.93 billion, a PE ratio of 42.35, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. 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 posted its earnings results 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 during the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. Equities research analysts forecast that Agree Realty Co. will post 4.11 EPS for the current year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, November 29th. Agree Realty’s payout ratio is 167.96%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADC. Royal Bank of Canada increased their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group increased their target price on shares of Agree Realty from $72.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Truist Financial increased their target price on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Stifel Nicolaus increased their price objective on shares of Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $74.19.

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.