XTX Topco Ltd Buys 2,267 Shares of Agree Realty Corporation (NYSE:ADC)

XTX Topco Ltd increased its stake in Agree Realty Corporation (NYSE:ADC) by 28.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,179 shares of the real estate investment trust’s stock after purchasing an additional 2,267 shares during the period. XTX Topco Ltd’s holdings in Agree Realty were worth $786,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cullen Frost Bankers Inc. bought a new position in shares of Agree Realty in the first quarter worth $27,000. Bernard Wealth Management Corp. bought a new position in Agree Realty in the fourth quarter valued at about $31,000. Capital Advisors Ltd. LLC grew its position in Agree Realty by 137.8% in the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. NBC Securities Inc. bought a new position in Agree Realty in the first quarter valued at about $39,000. Finally, Larson Financial Group LLC grew its position in Agree Realty by 415.1% in the first quarter. Larson Financial Group LLC now owns 546 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 440 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

Agree Realty stock opened at $73.67 on Monday. The stock’s 50 day moving average is $73.55 and its 200 day moving average is $74.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $8.11 billion, a P/E ratio of 43.85, a P/E/G ratio of 2.32 and a beta of 0.55. Agree Realty Corporation has a one year low of $67.58 and a one year high of $79.65.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%. The company had revenue of $175.53 million for the quarter, compared to analyst estimates of $173.95 million. During the same period in the previous year, the firm earned $1.04 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts expect that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.256 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a c) annualized dividend and a yield of 4.2%. Agree Realty’s payout ratio is 182.74%.

Analyst Ratings Changes

A number of research analysts have issued reports on ADC shares. Truist Financial lifted their target price on Agree Realty from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Mizuho decreased their target price on Agree Realty from $81.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, June 16th. Morgan Stanley cut Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 target price on the stock. in a research report on Friday, July 11th. Barclays lifted their target price on Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Finally, BTIG Research cut Agree Realty from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.32.

Agree Realty Company 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.