Cwm LLC Buys 271 Shares of Agree Realty Co. (NYSE:ADC)

Cwm LLC boosted its stake in Agree Realty Co. (NYSE:ADC) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,458 shares of the real estate investment trust’s stock after acquiring an additional 271 shares during the period. Cwm LLC’s holdings in Agree Realty were worth $260,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC bought a new stake in Agree Realty in the second quarter worth about $26,000. Massmutual Trust Co. FSB ADV raised its position in shares of Agree Realty by 248.3% in the second 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 during the period. Headlands Technologies LLC raised its position in shares of Agree Realty by 232.0% in the second 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. GAMMA Investing LLC raised its position in shares of Agree Realty by 125.9% in the second quarter. GAMMA Investing LLC now owns 1,403 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 782 shares during the period. Finally, Twin Tree Management LP bought a new stake in shares of Agree Realty in the first quarter valued at approximately $134,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Up 0.2 %

NYSE:ADC opened at $75.11 on Wednesday. The company has a fifty day moving average of $74.30 and a 200 day moving average of $66.34. Agree Realty Co. has a 52 week low of $52.69 and a 52 week high of $77.30. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $7.56 billion, a P/E ratio of 44.18, a P/E/G ratio of 2.47 and a beta of 0.61.

Agree Realty (NYSE:ADC) last posted 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 firm had revenue of $152.58 million for the quarter, compared to the consensus estimate of $150.35 million. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, research analysts predict that Agree Realty Co. will post 4.11 earnings per share for the current year.

Agree Realty Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.253 per share. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. This represents a $3.04 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, October 31st. Agree Realty’s dividend payout ratio is currently 178.24%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BTIG Research boosted their price target on shares of 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 boosted 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. UBS Group boosted their price target on shares of Agree Realty from $72.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price target (up previously from $77.00) on shares of Agree Realty in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their price objective on shares of Agree Realty from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.04.

About Agree Realty

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.