Headlands Technologies LLC Has $71,000 Stock Position in Agree Realty Co. (NYSE:ADC)

Headlands Technologies LLC lifted its holdings in Agree Realty Co. (NYSE:ADC) by 232.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,142 shares of the real estate investment trust’s stock after acquiring an additional 798 shares during the period. Headlands Technologies LLC’s holdings in Agree Realty were worth $71,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. MCF Advisors LLC bought a new position in shares of Agree Realty during the second quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV increased 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 worth $38,000 after acquiring an additional 442 shares during the period. UMB Bank n.a. raised its holdings in Agree Realty by 247.3% in the 1st quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 512 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Agree Realty by 35.9% during the 4th quarter. Parallel Advisors LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 298 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Agree Realty during the 4th quarter worth $80,000. 97.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADC has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Agree Realty from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BTIG Research upped their price target on shares of Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, August 12th. KeyCorp began coverage on shares of Agree Realty in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $68.00 price objective on the stock. Truist Financial upped their target price on Agree Realty from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their price target on Agree Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.42.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $76.71 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 0.79. Agree Realty Co. has a 52 week low of $52.69 and a 52 week high of $77.30. The firm has a market cap of $7.72 billion, a PE ratio of 45.12, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The firm’s fifty day moving average is $70.88 and its 200-day moving average is $63.02.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.51). Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The company had revenue of $152.58 million during the quarter, compared to the consensus estimate of $150.35 million. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Sell-side analysts predict that Agree Realty Co. will post 4.11 earnings per share for the current year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Monday, September 30th. Agree Realty’s dividend payout ratio is currently 176.47%.

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.