2 weeks Ago By ABMN Staff
Long Pond Capital LP decreased its holdings in shares of Agree Realty Co. ( NYSE:ADC – Free Report ) by 12.1% during the 2nd quarter, Holdings Channel.
com reports. The fund owned 2,521,801 shares of the real estate investment trust’s stock after selling 346,839 shares during the period. Agree Realty makes up approximately 8.
3% of Long Pond Capital LP’s portfolio, making the stock its 3rd biggest position. Long Pond Capital LP’s holdings in Agree Realty were worth $156,200,000 at the end of the most recent reporting period. A number of other large investors have also recently bought and sold shares of ADC.
MCF Advisors LLC acquired a new position in shares of Agree Realty during the second quarter valued at $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Agree Realty by 248.
3% during 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 buying an additional 442 shares during the last quarter.
UMB Bank n.a. boosted its position in shares of Agree Realty by 247.
3% during the first quarter. UMB Bank n.a.
now owns 719 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 512 shares during the period. Parallel Advisors LLC grew its holdings in Agree Realty by 35.9% in the 4th quarter.
Parallel Advisors LLC now owns 1,129 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 298 shares in the last quarter. Finally, 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. Institutional investors own 97.83% of the company’s stock.
Wall Street Analysts Forecast Growth Several research analysts have recently issued reports on ADC shares. Raymond James increased their price target on Agree Realty from $70.00 to $81.
00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 21st. KeyCorp started coverage on shares of Agree Realty in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $68.
00 target price for the company. Royal Bank of Canada raised their target price 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. Wells Fargo & Company upped their price target on shares of Agree Realty from $75.00 to $77.
00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Truist Financial raised their price objective on shares of Agree Realty from $68.00 to $77.
00 and gave the company a “buy” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.
96. Agree Realty Stock Down 0.2 % Shares of Agree Realty stock opened at $74.
40 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.
79 and a debt-to-equity ratio of 0.54. Agree Realty Co.
has a 12-month low of $52.69 and a 12-month high of $77.30.
The firm has a market capitalization of $7.49 billion, a PE ratio of 43.76, a price-to-earnings-growth ratio of 2.
51 and a beta of 0.61. The stock’s fifty day moving average is $72.
53 and its 200-day moving average is $63.92. Agree Realty ( NYSE:ADC – Get Free Report ) last posted its quarterly earnings data 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). The firm had revenue of $152.58 million for the quarter, compared to analysts’ expectations of $150.
35 million. Agree Realty had a net margin of 32.08% and a return on equity of 3.
72%. Agree Realty’s quarterly revenue was up 17.5% compared to the same quarter last year.
During the same period in the prior year, the company posted $0.98 earnings per share. Equities analysts anticipate that Agree Realty Co.
will post 4.11 earnings per share for the current year. Agree Realty Dividend Announcement The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th.
Shareholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $3.
00 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Monday, September 30th.
Agree Realty’s dividend payout ratio (DPR) is currently 176.47%. Agree Realty Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Agree Realty Co. ( NYSE:ADC – Free Report ). Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.
com's FREE daily email newsletter ..
