Tudor Investment Corp ET AL Sells 76,572 Shares of Agree Realty Co. (NYSE:ADC)

Tudor Investment Corp ET AL decreased its position in Agree Realty Co. (NYSE:ADC) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,075 shares of the real estate investment trust’s stock after selling 76,572 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.18% of Agree Realty worth $13,250,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 293 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in Agree Realty in the fourth quarter worth $31,000. Headlands Technologies LLC raised its holdings in Agree Realty by 72.8% in the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 235 shares in the last quarter. Financial Life Planners bought a new position in Agree Realty in the fourth quarter worth $44,000. Finally, Quarry LP purchased a new stake in shares of Agree Realty in the fourth quarter worth $52,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of NYSE ADC opened at $76.42 on Tuesday. The firm has a fifty day moving average price of $75.37 and a 200-day moving average price of $74.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $8.41 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a 1 year low of $57.02 and a 1 year high of $79.65.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data 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. The firm had revenue of $169.16 million during the quarter, compared to analysts’ expectations of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same period in the prior year, the company posted $0.43 earnings per share. Equities analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal 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 given a dividend of $0.256 per share. This is a positive change from Agree Realty’s previous apr 25 dividend of $0.25. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 4.1%. Agree Realty’s dividend payout ratio is currently 173.45%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADC shares. Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. Evercore ISI increased their target price on Agree Realty from $82.00 to $83.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Robert W. Baird increased their price objective on Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus increased their price objective on Agree Realty from $81.00 to $82.50 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their price objective on Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.88.

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.