Vanderbilt University Has $1.74 Million Holdings in Agree Realty Corporation (NYSE:ADC)

Vanderbilt University cut its position in Agree Realty Corporation (NYSE:ADC) by 13.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 22,489 shares of the real estate investment trust’s stock after selling 3,390 shares during the quarter. Vanderbilt University’s holdings in Agree Realty were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Agree Realty by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust’s stock valued at $1,025,044,000 after buying an additional 219,806 shares during the last quarter. Cohen & Steers Inc. grew its stake in Agree Realty by 43.0% in the 4th quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust’s stock valued at $688,108,000 after buying an additional 2,937,147 shares during the last quarter. Invesco Ltd. grew its stake in Agree Realty by 85.6% in the 4th quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust’s stock valued at $155,895,000 after buying an additional 1,020,512 shares during the last quarter. Geode Capital Management LLC grew its stake in Agree Realty by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust’s stock valued at $150,255,000 after buying an additional 57,492 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Agree Realty by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust’s stock valued at $115,936,000 after buying an additional 57,297 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADC has been the topic of a number of research analyst reports. UBS Group lowered their target price on shares of Agree Realty from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. BTIG Research downgraded shares of Agree Realty from a “buy” rating to a “neutral” rating in a report on Wednesday, May 7th. Robert W. Baird raised their price objective on shares of Agree Realty from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Evercore ISI raised their price objective on shares of Agree Realty from $82.00 to $83.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Mizuho cut their price target on shares of Agree Realty from $81.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.96.

Agree Realty Trading Up 0.9%

Shares of NYSE ADC opened at $75.33 on Friday. Agree Realty Corporation has a 1-year low of $60.42 and a 1-year high of $79.65. The company has a market cap of $8.29 billion, a PE ratio of 42.56, a P/E/G ratio of 2.36 and a beta of 0.56. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $75.59 and a two-hundred day moving average of $73.92.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 30.05% and a return on equity of 3.66%. The company had revenue of $169.16 million during the quarter, compared to the consensus estimate of $167.77 million. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, equities analysts expect that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a jun 25 dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.256 dividend. This represents a dividend yield of 4.1%. The ex-dividend date is Monday, June 30th. Agree Realty’s dividend payout ratio is presently 173.45%.

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.