Xponance Inc. Purchases 773 Shares of Agree Realty Co. (NYSE:ADC)

Xponance Inc. raised its position in shares of Agree Realty Co. (NYSE:ADC) by 6.9% in the fourth quarter, HoldingsChannel reports. The fund owned 12,053 shares of the real estate investment trust’s stock after acquiring an additional 773 shares during the period. Xponance Inc.’s holdings in Agree Realty were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Agree Realty by 3.4% in the third quarter. Vanguard Group Inc. now owns 13,759,418 shares of the real estate investment trust’s stock valued at $760,070,000 after buying an additional 452,798 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Agree Realty by 0.4% in the third quarter. Principal Financial Group Inc. now owns 5,941,235 shares of the real estate investment trust’s stock valued at $328,190,000 after buying an additional 25,723 shares in the last quarter. Invesco Ltd. raised its position in shares of Agree Realty by 11.1% in the third quarter. Invesco Ltd. now owns 2,158,567 shares of the real estate investment trust’s stock valued at $119,239,000 after buying an additional 216,494 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Agree Realty by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,375,914 shares of the real estate investment trust’s stock valued at $76,005,000 after buying an additional 81,290 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Agree Realty by 1.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,177,543 shares of the real estate investment trust’s stock valued at $74,127,000 after buying an additional 21,254 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Down 0.5 %

Shares of NYSE:ADC opened at $58.07 on Friday. The company has a fifty day moving average of $56.62 and a 200-day moving average of $58.25. The company has a market capitalization of $5.84 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 0.74. Agree Realty Co. has a 52-week low of $52.69 and a 52-week high of $69.26.

Agree Realty Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Agree Realty’s previous monthly dividend of $0.25. This represents a $3.00 annualized dividend and a dividend yield of 5.17%. Agree Realty’s dividend payout ratio is 174.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ADC shares. Mizuho dropped their price target on shares of Agree Realty from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. JMP Securities upgraded shares of Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Monday, January 22nd. Truist Financial lowered their price objective on shares of Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. BMO Capital Markets assumed coverage on shares of Agree Realty in a research report on Tuesday, February 13th. They set an “outperform” rating and a $69.00 price objective for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Agree Realty from $70.00 to $69.50 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.61.

Insider Transactions at Agree Realty

In other Agree Realty news, CEO Joey Agree acquired 2,000 shares of Agree Realty stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $57.56 per share, with a total value of $115,120.00. Following the completion of the purchase, the chief executive officer now directly owns 557,903 shares in the company, valued at approximately $32,112,896.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Agree Realty news, Director John Rakolta, Jr. acquired 20,430 shares of Agree Realty stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average price of $57.00 per share, with a total value of $1,164,510.00. Following the completion of the purchase, the director now directly owns 392,549 shares in the company, valued at approximately $22,375,293. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joey Agree acquired 2,000 shares of Agree Realty stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the purchase, the chief executive officer now owns 557,903 shares of the company’s stock, valued at $32,112,896.68. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 42,482 shares of company stock worth $2,397,572. Corporate insiders own 1.80% of the company’s stock.

Agree Realty 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.