GAMMA Investing LLC Grows Holdings in Agree Realty Co. (NYSE:ADC)

GAMMA Investing LLC increased its holdings in shares of Agree Realty Co. (NYSE:ADC) by 34.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,897 shares of the real estate investment trust’s stock after purchasing an additional 743 shares during the period. GAMMA Investing LLC’s holdings in Agree Realty were worth $204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in shares of Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 293 shares during the last quarter. Headlands Technologies LLC increased its position in Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 798 shares during the period. UMB Bank n.a. raised its stake in Agree Realty by 44.5% during the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Agree Realty during the 3rd quarter worth approximately $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Agree Realty in the 3rd quarter valued at approximately $77,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Stock Down 0.6 %

Agree Realty stock opened at $69.98 on Wednesday. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average is $73.87 and its two-hundred day moving average is $72.08. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64.

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). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business had revenue of $154.33 million for the quarter, compared to analysts’ expectations of $152.83 million. During the same quarter last year, the business posted $1.00 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Analysts predict that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Tuesday, December 31st. Agree Realty’s payout ratio is currently 167.40%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADC. KeyCorp increased their price target on Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their target price for the company from $79.00 to $84.00 in a report on Monday. Royal Bank of Canada cut their price target on shares of Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Tuesday. JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Finally, Robert W. Baird increased their target price on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and a consensus price target of $78.93.

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.