Quantbot Technologies LP Decreases Position in Agree Realty Co. (NYSE:ADC)

Quantbot Technologies LP lowered its stake in shares of Agree Realty Co. (NYSE:ADC) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,097 shares of the real estate investment trust’s stock after selling 16,249 shares during the quarter. Quantbot Technologies LP owned 0.08% of Agree Realty worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 293 shares in the last quarter. Financial Life Planners acquired a new stake in shares of Agree Realty in the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 230 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Agree Realty during the third quarter worth $77,000. Finally, UMB Bank n.a. raised its stake in Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 168 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Trading Down 1.0 %

NYSE:ADC opened at $75.48 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $73.32 and its 200-day simple moving average is $73.90. Agree Realty Co. has a 12-month low of $54.78 and a 12-month high of $78.39. The firm has a market cap of $8.10 billion, a P/E ratio of 42.40, a PEG ratio of 2.88 and a beta of 0.64.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. Equities analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a yield of 4.02%. Agree Realty’s payout ratio is currently 170.22%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price target on the stock. Stifel Nicolaus lowered their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. BTIG Research lifted their price target on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.