Agree Realty Co. (NYSE:ADC) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC increased its position in shares of Agree Realty Co. (NYSE:ADC) by 20.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,874 shares of the real estate investment trust’s stock after purchasing an additional 18,171 shares during the period. Natixis Advisors LLC’s holdings in Agree Realty were worth $7,975,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. raised its stake in shares of Agree Realty by 0.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 29,274 shares of the real estate investment trust’s stock worth $1,813,000 after buying an additional 170 shares in the last quarter. Capital Square LLC boosted its position in shares of 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 valued at $1,193,000 after purchasing an additional 179 shares in the last quarter. Blue Trust Inc. grew its stake in shares of 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 last quarter. Commonwealth Equity Services LLC raised its holdings in shares of 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 in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Agree Realty by 0.4% during the third 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 purchasing an additional 224 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADC has been the subject of a number of recent research reports. BTIG Research increased their price objective on Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Raymond James upped their price target on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company reduced their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. UBS Group upped their target price on Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Robert W. Baird raised 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.73.

Agree Realty Stock Up 0.1 %

Agree Realty stock opened at $77.12 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $77.58. The firm’s fifty day simple moving average is $75.08 and its 200-day simple moving average is $68.95. The company has a market capitalization of $7.98 billion, a P/E ratio of 42.61, a P/E/G ratio of 3.14 and a beta of 0.61.

Agree Realty (NYSE:ADC) last posted 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 company had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. Agree Realty’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business earned $1.00 earnings per share. Sell-side analysts forecast that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.253 per share. The ex-dividend date is Friday, November 29th. This represents a $3.04 dividend on an annualized basis and a yield of 3.94%. Agree Realty’s payout ratio is currently 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.