Agree Realty Co. (NYSE:ADC) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP lifted its stake in Agree Realty Co. (NYSE:ADC) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 313,744 shares of the real estate investment trust’s stock after acquiring an additional 26,876 shares during the period. Systematic Financial Management LP owned 0.30% of Agree Realty worth $23,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Daiwa Securities Group Inc. lifted its stake in shares of Agree Realty by 29.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after acquiring an additional 534,545 shares during the period. FMR LLC lifted its stake in shares of Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after acquiring an additional 1,968,811 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Agree Realty by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust’s stock worth $119,651,000 after acquiring an additional 57,354 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Agree Realty by 5.3% in 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 purchasing an additional 76,818 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Agree Realty by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,284,143 shares of the real estate investment trust’s stock worth $79,540,000 after purchasing an additional 43,768 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Stock Performance

ADC stock opened at $75.52 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 41.72, a P/E/G ratio of 3.72 and a beta of 0.62. Agree Realty Co. has a 12 month low of $54.28 and a 12 month high of $78.39. The firm has a 50 day moving average of $75.30 and a two-hundred day moving average of $70.12.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). The business had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities analysts anticipate that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently announced 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 4.02%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty’s dividend payout ratio is 167.96%.

Analyst Ratings Changes

ADC has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial boosted their price target on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Raymond James boosted their price target on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 21st. Robert W. Baird boosted their price target 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 target on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.