Xponance Inc. Grows Stock Holdings in Agree Realty Co. (NYSE:ADC)

Xponance Inc. boosted its stake in shares of Agree Realty Co. (NYSE:ADC) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,962 shares of the real estate investment trust’s stock after buying an additional 1,188 shares during the quarter. Xponance Inc.’s holdings in Agree Realty were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pathstone Holdings LLC grew its holdings in shares of Agree Realty by 15.9% in the 3rd quarter. Pathstone Holdings LLC now owns 25,833 shares of the real estate investment trust’s stock worth $1,946,000 after acquiring an additional 3,535 shares during the period. Caprock Group LLC purchased a new stake in Agree Realty during the third quarter worth $262,000. PNC Financial Services Group Inc. grew its holdings in Agree Realty by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 14,914 shares of the real estate investment trust’s stock valued at $1,123,000 after purchasing an additional 549 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Agree Realty by 40.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 118,306 shares of the real estate investment trust’s stock valued at $8,912,000 after buying an additional 33,914 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Agree Realty by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust’s stock worth $119,651,000 after buying an additional 57,354 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Stock Up 0.3 %

ADC opened at $75.72 on Tuesday. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a 12 month low of $54.78 and a 12 month high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50-day moving average of $73.44 and a two-hundred day moving average of $73.91.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping 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%. On average, research analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.253 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, March 31st. Agree Realty’s payout ratio is currently 170.22%.

Analyst Ratings Changes

A number of brokerages recently commented on ADC. Royal Bank of Canada lowered their price objective on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. Citizens Jmp cut Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, 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 report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and an average price target of $79.85.

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.