Quantbot Technologies LP Purchases 55,217 Shares of Agree Realty Co. (NYSE:ADC)

Quantbot Technologies LP lifted its position in shares of Agree Realty Co. (NYSE:ADC) by 134.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 96,346 shares of the real estate investment trust’s stock after acquiring an additional 55,217 shares during the quarter. Quantbot Technologies LP owned approximately 0.09% of Agree Realty worth $7,258,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. lifted its position in shares of Agree Realty by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 29,274 shares of the real estate investment trust’s stock worth $1,813,000 after acquiring an additional 170 shares in the last quarter. Capital Square LLC lifted its holdings in Agree Realty by 1.0% during the 2nd quarter. Capital Square LLC now owns 17,995 shares of the real estate investment trust’s stock worth $1,193,000 after purchasing an additional 179 shares in the last quarter. Blue Trust Inc. boosted its stake in Agree Realty by 8.8% in the 2nd quarter. Blue Trust Inc. now owns 2,634 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 213 shares during the period. Commonwealth Equity Services LLC boosted its stake in Agree Realty by 3.2% in the 2nd 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 during the period. Finally, State of Alaska Department of Revenue grew its holdings in Agree Realty by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock valued at $4,438,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ADC shares. KeyCorp raised their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. BTIG Research raised their price target on shares of Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a report on Monday, August 12th. Robert W. Baird upped their price target on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their price objective on Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.73.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $76.41 on Tuesday. 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 stock has a market cap of $7.91 billion, a PE ratio of 42.21, a PEG ratio of 3.10 and a beta of 0.61. The company’s fifty day moving average is $75.09 and its 200 day moving average is $69.40. Agree Realty Co. has a 52 week low of $54.28 and a 52 week high of $77.58.

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

Agree Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.253 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty’s payout ratio is 167.40%.

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.