Agree Realty Co. (NYSE:ADC) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lowered its holdings in Agree Realty Co. (NYSE:ADC) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 462,446 shares of the real estate investment trust’s stock after selling 49,489 shares during the period. ExodusPoint Capital Management LP owned approximately 0.45% of Agree Realty worth $32,579,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADC. HighTower Advisors LLC boosted its position in Agree Realty by 24.5% during the 3rd quarter. HighTower Advisors LLC now owns 12,472 shares of the real estate investment trust’s stock worth $957,000 after purchasing an additional 2,453 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Agree Realty in the third quarter valued at about $588,000. Quantinno Capital Management LP raised its holdings in shares of Agree Realty by 23.9% during the 3rd quarter. Quantinno Capital Management LP now owns 6,015 shares of the real estate investment trust’s stock valued at $453,000 after buying an additional 1,160 shares during the period. Systematic Financial Management LP lifted its position in Agree Realty by 9.4% during the 3rd quarter. Systematic Financial Management LP now owns 313,744 shares of the real estate investment trust’s stock worth $23,634,000 after acquiring an additional 26,876 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Agree Realty by 92.6% in the 3rd quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock worth $53,815,000 after acquiring an additional 343,400 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Down 0.4 %

ADC stock opened at $76.54 on Thursday. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 43.00, a PEG ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a 1-year low of $54.78 and a 1-year high of $78.39. The firm has a fifty day moving average price of $74.06 and a two-hundred day moving average price of $73.93. 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 released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. Research analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.253 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. Agree Realty’s payout ratio is currently 170.22%.

Analysts Set New Price Targets

ADC has been the topic of a number of recent research reports. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Citizens Jmp cut shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a research report on Wednesday, December 11th. They set a “buy” rating and a $88.00 target price on the stock. Evercore ISI started coverage on Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price target for the company. Finally, Mizuho dropped their price objective on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.85.

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.