Schonfeld Strategic Advisors LLC Sells 125,211 Shares of Agree Realty Co. (NYSE:ADC)

Schonfeld Strategic Advisors LLC trimmed its holdings in shares of Agree Realty Co. (NYSE:ADC) by 85.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,902 shares of the real estate investment trust’s stock after selling 125,211 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Agree Realty were worth $1,473,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Cohen & Steers Inc. increased its position in shares of Agree Realty by 43.0% during the 4th quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust’s stock worth $688,108,000 after purchasing an additional 2,937,147 shares during the last quarter. Raymond James Financial Inc. bought a new position in Agree Realty during the fourth quarter worth about $101,382,000. Invesco Ltd. raised its position in shares of Agree Realty by 85.6% in the fourth 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in Agree Realty by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after acquiring an additional 990,362 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Agree Realty by 89.2% in the fourth quarter. Northern Trust Corp now owns 1,523,280 shares of the real estate investment trust’s stock valued at $107,315,000 after purchasing an additional 718,114 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

ADC has been the subject of several research analyst reports. Mizuho boosted their price objective on shares of Agree Realty from $74.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Wells Fargo & Company upped their price objective on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research report on Wednesday, April 30th. Evercore ISI increased their target price 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, Truist Financial lifted their price target on shares of Agree Realty from $77.00 to $82.00 and gave the company a “buy” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.04.

Agree Realty Stock Up 0.4 %

ADC opened at $76.71 on Wednesday. Agree Realty Co. has a 12 month low of $58.18 and a 12 month high of $79.65. The company has a market cap of $8.44 billion, a PE ratio of 43.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $75.84 and a 200 day moving average of $74.12.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. The firm had revenue of $169.16 million for the quarter, compared to the consensus estimate of $167.77 million. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, sell-side analysts expect that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Increases Dividend

The business also recently announced a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.256 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This is a boost from Agree Realty’s previous apr 25 dividend of $0.25. This represents a yield of 4.1%. Agree Realty’s dividend payout ratio is currently 173.45%.

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.