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

Xponance Inc. lifted its stake in shares of Agree Realty Co. (NYSE:ADC) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,053 shares of the real estate investment trust’s stock after acquiring an additional 773 shares during the quarter. Xponance Inc.’s holdings in Agree Realty were worth $759,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ADC. Vanguard Group Inc. lifted its position in shares of Agree Realty by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,759,418 shares of the real estate investment trust’s stock worth $760,070,000 after purchasing an additional 452,798 shares during the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Agree Realty by 2,442.7% in the third quarter. Jupiter Asset Management Ltd. now owns 467,555 shares of the real estate investment trust’s stock valued at $25,828,000 after acquiring an additional 449,167 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Agree Realty by 314.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 442,969 shares of the real estate investment trust’s stock worth $24,470,000 after acquiring an additional 336,089 shares during the last quarter. Invesco Ltd. increased its position in Agree Realty by 11.1% during the third quarter. Invesco Ltd. now owns 2,158,567 shares of the real estate investment trust’s stock worth $119,239,000 after acquiring an additional 216,494 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in Agree Realty by 394.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 248,593 shares of the real estate investment trust’s stock valued at $13,732,000 after purchasing an additional 198,266 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

NYSE:ADC opened at $58.07 on Friday. The firm has a market cap 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’s 50-day moving average price is $56.62 and its two-hundred day moving average price is $58.25. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.48. Agree Realty Co. has a 12 month low of $52.69 and a 12 month high of $69.26.

Agree Realty Increases Dividend

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

Insider Activity at Agree Realty

In other Agree Realty news, Chairman Richard Agree bought 16,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $55.50 per share, for a total transaction of $888,000.00. Following the completion of the acquisition, the chairman now owns 135,855 shares of the company’s stock, valued at $7,539,952.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Richard Agree bought 16,000 shares of Agree Realty stock in a transaction dated Thursday, February 29th. The shares were bought at an average cost of $55.50 per share, for a total transaction of $888,000.00. Following the completion of the transaction, the chairman now owns 135,855 shares of the company’s stock, valued at $7,539,952.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Rakolta, Jr. purchased 20,430 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were bought at an average cost of $57.00 per share, for a total transaction of $1,164,510.00. Following the completion of the purchase, the director now directly owns 392,549 shares of the company’s stock, valued at $22,375,293. The disclosure for this purchase can be found here. Insiders acquired 42,482 shares of company stock valued at $2,397,572 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on shares of Agree Realty from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Truist Financial reduced their price objective on Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a report on Thursday. Mizuho cut their target price on Agree Realty from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Finally, BMO Capital Markets assumed coverage on Agree Realty in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $69.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and a consensus target price of $65.61.

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.