Barclays PLC Grows Position in Agree Realty Co. (NYSE:ADC)

Barclays PLC lifted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 129.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 239,783 shares of the real estate investment trust’s stock after purchasing an additional 135,274 shares during the quarter. Barclays PLC owned 0.23% of Agree Realty worth $18,062,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADC. Nomura Asset Management Co. Ltd. grew its stake in Agree Realty by 2.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 132,880 shares of the real estate investment trust’s stock worth $10,010,000 after buying an additional 2,930 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Agree Realty during the 3rd quarter worth $901,000. EP Wealth Advisors LLC bought a new stake in shares of Agree Realty during the 3rd quarter worth $294,000. Jane Street Group LLC grew its position in Agree Realty by 833.5% in the third quarter. Jane Street Group LLC now owns 100,958 shares of the real estate investment trust’s stock worth $7,605,000 after acquiring an additional 90,143 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Agree Realty by 92.6% during the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock valued at $53,815,000 after purchasing an additional 343,400 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ADC shares. Raymond James upped their price objective on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 21st. UBS Group upped their target price on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Wells Fargo & Company decreased their price target on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Robert W. Baird upped their price objective on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, KeyCorp boosted their price target on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given 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 $78.18.

Agree Realty Price Performance

ADC opened at $74.66 on Friday. The stock’s 50 day moving average price is $75.23 and its 200-day moving average price is $70.84. Agree Realty Co. has a 52-week low of $54.28 and a 52-week high of $78.39. The stock has a market capitalization of $7.73 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 3.66 and a beta of 0.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $152.83 million. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Agree Realty Co. will post 4.12 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.253 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.04 annualized dividend and a yield of 4.07%. Agree Realty’s payout ratio is 167.96%.

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.