GSA Capital Partners LLP Increases Stake in Agree Realty Co. (NYSE:ADC)

GSA Capital Partners LLP boosted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 238.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,768 shares of the real estate investment trust’s stock after acquiring an additional 10,404 shares during the period. GSA Capital Partners LLP’s holdings in Agree Realty were worth $1,112,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ADC. Long Pond Capital LP grew its holdings in Agree Realty by 489.8% during the first quarter. Long Pond Capital LP now owns 2,868,640 shares of the real estate investment trust’s stock valued at $163,857,000 after purchasing an additional 2,382,252 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of Agree Realty by 9,118.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock worth $92,487,000 after buying an additional 1,214,437 shares during the last quarter. PGGM Investments bought a new position in shares of Agree Realty during the 2nd quarter valued at approximately $70,225,000. Daiwa Securities Group Inc. raised its position in Agree Realty by 55.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust’s stock worth $112,453,000 after purchasing an additional 650,921 shares during the period. Finally, Leeward Investments LLC MA purchased a new position in Agree Realty during the 2nd quarter valued at $30,306,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Down 1.4 %

Shares of ADC opened at $75.57 on Friday. Agree Realty Co. has a twelve month low of $54.28 and a twelve month high of $77.47. The stock’s fifty day simple moving average is $75.00 and its 200 day simple moving average is $68.30. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $7.82 billion, a P/E ratio of 41.75, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business had revenue of $154.33 million for the quarter, compared to analysts’ expectations of $152.83 million. During the same period last year, the company posted $1.00 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Agree Realty Co. will post 4.11 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.04 annualized dividend and a dividend yield of 4.02%. Agree Realty’s payout ratio is currently 167.96%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ADC shares. BTIG Research increased their price target on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. UBS Group raised their price target on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com lowered Agree Realty from a “hold” rating to a “sell” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird raised their price objective on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and an average target price of $75.73.

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.