World Investment Advisors LLC Acquires New Shares in Agree Realty Co. (NYSE:ADC)

World Investment Advisors LLC bought a new position in Agree Realty Co. (NYSE:ADC) in the third quarter, HoldingsChannel reports. The institutional investor bought 2,795 shares of the real estate investment trust’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also modified their holdings of ADC. MCF Advisors LLC purchased a new stake in shares of Agree Realty during the second quarter valued at $26,000. UMB Bank n.a. lifted its stake in Agree Realty by 44.5% during the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 299 shares during the period. Arcadia Investment Management Corp MI bought a new position in Agree Realty during the 3rd quarter valued at about $75,000. Headlands Technologies LLC boosted its holdings in shares of Agree Realty by 232.0% during 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 last quarter. Finally, Vestcor Inc bought a new stake in shares of Agree Realty in the third quarter worth approximately $111,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

ADC opened at $69.44 on Friday. The firm has a market cap of $7.19 billion, a P/E ratio of 38.36, a PEG ratio of 3.66 and a beta of 0.62. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $78.39. The company has a 50 day simple moving average of $75.10 and a two-hundred day simple moving average of $71.09. 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 issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.61). The firm 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 company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. Equities analysts forecast that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 4.37%. The ex-dividend date is Tuesday, December 31st. Agree Realty’s dividend payout ratio (DPR) is presently 167.40%.

Analyst Ratings Changes

ADC has been the topic of several research reports. Citizens Jmp cut shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday. UBS Group raised their price target on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada raised their target price on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial upped their price target on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.03.

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.