Landscape Capital Management L.L.C. Acquires 11,741 Shares of Agree Realty Co. (NYSE:ADC)

Landscape Capital Management L.L.C. raised its stake in shares of Agree Realty Co. (NYSE:ADC) by 116.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,858 shares of the real estate investment trust’s stock after acquiring an additional 11,741 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Agree Realty were worth $1,540,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Spire Wealth Management purchased a new position in Agree Realty in the fourth quarter valued at about $411,000. abrdn plc grew its position in shares of Agree Realty by 33.7% in the 4th quarter. abrdn plc now owns 27,497 shares of the real estate investment trust’s stock worth $1,922,000 after buying an additional 6,924 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after acquiring an additional 990,362 shares in the last quarter. Sage Investment Counsel LLC purchased a new stake in Agree Realty during the fourth quarter valued at approximately $329,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Agree Realty by 24.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,129 shares of the real estate investment trust’s stock valued at $1,348,000 after acquiring an additional 3,776 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

Agree Realty Price Performance

Shares of ADC opened at $74.34 on Friday. The business’s 50-day moving average is $74.22 and its two-hundred day moving average is $73.94. The company has a market capitalization of $7.98 billion, a P/E ratio of 41.76, a P/E/G 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 announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Research analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.253 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty’s dividend payout ratio is currently 170.22%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADC shares. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on Agree Realty in a report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price target for the company. Wells Fargo & Company boosted their price target on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Barclays raised shares of Agree Realty from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $74.00 to $75.00 in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus decreased their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and an average target price of $80.38.

Agree Realty Company 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.