Xponance Inc. Grows Stock Position in Agree Realty Co. (NYSE:ADC)

Xponance Inc. increased its holdings in Agree Realty Co. (NYSE:ADC) by 11.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,962 shares of the real estate investment trust’s stock after acquiring an additional 1,188 shares during the period. Xponance Inc.’s holdings in Agree Realty were worth $843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pathstone Holdings LLC increased its position in shares of Agree Realty by 15.9% during the third quarter. Pathstone Holdings LLC now owns 25,833 shares of the real estate investment trust’s stock valued at $1,946,000 after acquiring an additional 3,535 shares during the last quarter. Caprock Group LLC acquired a new stake in Agree Realty in the 3rd quarter valued at approximately $262,000. PNC Financial Services Group Inc. raised its position in Agree Realty by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 14,914 shares of the real estate investment trust’s stock valued at $1,123,000 after purchasing an additional 549 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Agree Realty by 40.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 118,306 shares of the real estate investment trust’s stock worth $8,912,000 after purchasing an additional 33,914 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Agree Realty by 3.7% during the third 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 buying an additional 57,354 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Price Performance

Shares of NYSE ADC opened at $75.72 on Tuesday. The stock’s 50-day simple moving average is $73.44 and its 200-day simple moving average is $73.91. The firm has a market capitalization of $8.12 billion, a PE ratio of 42.54, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a fifty-two week low of $54.78 and a fifty-two week high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. As a group, equities research analysts forecast that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a yield of 4.01%. Agree Realty’s dividend payout ratio is presently 170.22%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ADC shares. BTIG Research increased their target price on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Barclays raised shares of Agree Realty from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $74.00 to $75.00 in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $79.85.

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.