Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 18,120 Shares of Agree Realty Co. (NYSE:ADC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Agree Realty Co. (NYSE:ADC) by 45.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,574 shares of the real estate investment trust’s stock after acquiring an additional 18,120 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Agree Realty were worth $4,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ADC. FMR LLC grew its position in Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after acquiring an additional 1,968,811 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Agree Realty during the fourth quarter valued at $101,382,000. JPMorgan Chase & Co. increased its stake in shares of Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after buying an additional 990,362 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after buying an additional 534,545 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Agree Realty by 92.6% during the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock valued at $53,815,000 after buying an additional 343,400 shares during the period. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Down 1.0 %

Agree Realty stock opened at $75.48 on Monday. The stock has a market capitalization of $8.10 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a 12 month low of $54.78 and a 12 month high of $78.39. The business has a 50 day simple moving average of $73.32 and a 200-day simple moving average of $73.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. On average, analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, March 31st. Agree Realty’s payout ratio is 170.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ADC shares. Deutsche Bank Aktiengesellschaft started coverage on Agree Realty in a research note on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target on the stock. BTIG Research raised their price target on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $84.00 in a research note on Monday, January 6th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Finally, Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and a consensus target price of $79.85.

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.