Agree Realty Co. (NYSE:ADC) Shares Purchased by Pathway Financial Advisers LLC

by · The Cerbat Gem

Pathway Financial Advisers LLC raised its position in Agree Realty Co. (NYSE:ADC – Free Report) by 9,118.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,227,756 shares of the real estate investment trust’s stock after buying an additional 1,214,437 shares during the quarter. Pathway Financial Advisers LLC owned about 1.22% of Agree Realty worth $92,487,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Agree Realty by 1.8% during the first quarter. Vanguard Group Inc. now owns 14,480,463 shares of the real estate investment trust’s stock worth $827,124,000 after purchasing an additional 258,217 shares during the last quarter. Long Pond Capital LP grew its position in shares of Agree Realty by 489.8% in 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 last quarter. Daiwa Securities Group Inc. increased its stake in shares of Agree Realty by 55.9% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Agree Realty by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,522,014 shares of the real estate investment trust’s stock valued at $94,273,000 after buying an additional 76,818 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Agree Realty by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 1,284,143 shares of the real estate investment trust’s stock valued at $79,540,000 after acquiring an additional 43,768 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of Agree Realty from $72.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Stifel Nicolaus increased their target price on Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Truist Financial lifted their price target on Agree Realty from $68.00 to $77.00 and gave the company a “buy” rating in a report on Monday, August 5th. Raymond James upped their price objective on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 target price (up from $77.00) on shares of Agree Realty in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.88.

View Our Latest Analysis on ADC

Agree Realty Trading Up 0.0 %

Shares of ADC stock traded up $0.03 during trading hours on Friday, reaching $75.03. 3,399,426 shares of the stock traded hands, compared to its average volume of 961,406. Agree Realty Co. has a 1-year low of $52.69 and a 1-year high of $77.47. The firm has a market capitalization of $7.55 billion, a PE ratio of 44.14, a PEG ratio of 2.47 and a beta of 0.61. 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 business has a fifty day moving average price of $74.53 and a 200 day moving average price of $66.60.

Agree Realty (NYSE:ADC – Get Free Report) last posted 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). The firm had revenue of $154.33 million for the quarter, compared to analysts’ expectations of $152.83 million. Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the business earned $1.00 earnings per share. On average, equities research analysts forecast that Agree Realty Co. will post 4.11 EPS for the current year.

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.253 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.04 dividend on an annualized basis and a yield of 4.05%. This is a boost from Agree Realty’s previous monthly dividend of $0.25. Agree Realty’s dividend payout ratio is presently 178.24%.

Agree Realty Company 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.

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