Atria Investments Inc Buys 1,142 Shares of Agree Realty Co. (NYSE:ADC)

Atria Investments Inc increased its stake in Agree Realty Co. (NYSE:ADC) by 9.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,928 shares of the real estate investment trust’s stock after acquiring an additional 1,142 shares during the period. Atria Investments Inc’s holdings in Agree Realty were worth $974,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. MCF Advisors LLC bought a new stake in Agree Realty in the second quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its holdings in Agree Realty by 248.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 442 shares during the last quarter. Headlands Technologies LLC boosted its position in 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 buying an additional 798 shares during the period. UMB Bank n.a. grew its holdings in Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 299 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of Agree Realty in the third quarter valued at about $75,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Price Performance

Shares of NYSE ADC opened at $75.97 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The company has a 50 day simple moving average of $75.03 and a two-hundred day simple moving average of $68.55. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $77.47. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 3.08 and a beta of 0.61.

Agree Realty (NYSE:ADC) last announced 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 quarter in the previous year, the firm posted $1.00 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts expect that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty’s dividend payout ratio (DPR) is 167.96%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADC. StockNews.com lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus lifted their price objective on Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Mizuho upped their target price on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada lifted their price target on shares of Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Truist Financial upped their price objective on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.73.

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.