Agree Realty Co. (NYSE:ADC) Shares Bought by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Agree Realty Co. (NYSE:ADC) by 40.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,306 shares of the real estate investment trust’s stock after purchasing an additional 33,914 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.11% of Agree Realty worth $8,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MCF Advisors LLC bought a new position in shares of Agree Realty in the second quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV boosted its stake 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 purchasing an additional 442 shares in the last quarter. Headlands Technologies LLC increased its position 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 purchasing an additional 798 shares during the period. UMB Bank n.a. lifted its holdings in shares of Agree Realty by 44.5% in the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 299 shares during the period. Finally, Arcadia Investment Management Corp MI bought a new position in Agree Realty during the third quarter valued at about $75,000. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ADC shares. KeyCorp raised their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Raymond James lifted their price target on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company cut their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada lifted their target price on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.73.

Agree Realty Stock Performance

Shares of ADC stock opened at $76.45 on Monday. The firm has a market cap of $7.91 billion, a P/E ratio of 42.24, a PEG ratio of 3.13 and a beta of 0.61. 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 Co. has a fifty-two week low of $54.28 and a fifty-two week high of $77.58. The stock’s 50-day moving average is $75.10 and its two-hundred day moving average is $69.20.

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 for the quarter, missing the consensus estimate of $1.03 by ($0.61). The business 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 revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. Analysts predict that Agree Realty Co. will post 4.12 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, November 29th. Agree Realty’s dividend payout ratio is presently 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.