Metis Global Partners LLC Purchases 2,366 Shares of Agree Realty Co. (NYSE:ADC)

Metis Global Partners LLC boosted its position in shares of Agree Realty Co. (NYSE:ADC) by 29.7% in the third quarter, Holdings Channel reports. The fund owned 10,336 shares of the real estate investment trust’s stock after acquiring an additional 2,366 shares during the period. Metis Global Partners LLC’s holdings in Agree Realty were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. MCF Advisors LLC bought a new stake in Agree Realty during the 2nd quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Agree Realty by 248.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 442 shares during the last quarter. Headlands Technologies LLC increased its position in Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 798 shares during the period. UMB Bank n.a. raised its stake in Agree Realty by 44.5% during the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 299 shares during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in Agree Realty in the 3rd quarter valued at $75,000. 97.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Agree Realty from a “hold” rating to a “sell” rating in a research report on Thursday. Truist Financial increased their price target on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Royal Bank of Canada upped their price target on Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, BTIG Research increased their target price on shares of Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and an average price target of $75.73.

Agree Realty Stock Up 0.5 %

NYSE ADC opened at $75.97 on Monday. The stock has a market capitalization of $7.86 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 3.08 and a beta of 0.61. Agree Realty Co. has a 52 week low of $54.28 and a 52 week high of $77.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a fifty day moving average of $75.03 and a 200-day moving average of $68.55.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The firm had revenue of $154.33 million during the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. Agree Realty’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. On average, equities research analysts forecast that Agree Realty Co. will post 4.12 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty’s dividend payout ratio (DPR) is 167.96%.

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.