Agree Realty Co. (NYSE:ADC) Stock Holdings Increased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lifted its holdings in Agree Realty Co. (NYSE:ADC) by 21.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 182,728 shares of the real estate investment trust’s stock after buying an additional 31,972 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.18% of Agree Realty worth $12,873,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Agree Realty during the 4th quarter valued at about $31,000. Headlands Technologies LLC raised its stake in shares of Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 235 shares in the last quarter. Financial Life Planners bought a new stake in Agree Realty in the fourth quarter worth about $44,000. Quarry LP acquired a new stake in Agree Realty during the fourth quarter valued at approximately $52,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADC. Mizuho lifted their target price on shares of Agree Realty from $74.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. JMP Securities restated a “market perform” rating on shares of Agree Realty in a research note on Wednesday, April 30th. BTIG Research lowered Agree Realty from a “buy” rating to a “neutral” rating in a report on Wednesday. Robert W. Baird upped their price target on shares of Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, 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 research note on Thursday, April 24th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and an average target price of $81.04.

Agree Realty Price Performance

NYSE:ADC opened at $74.95 on Friday. Agree Realty Co. has a 12 month low of $58.38 and a 12 month high of $79.65. The company’s 50-day moving average price is $75.91 and its two-hundred day moving average price is $74.13. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market cap of $8.25 billion, a PE ratio of 42.11, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. The firm had revenue of $169.16 million for the quarter, compared to analyst estimates of $167.77 million. During the same period last year, the company earned $0.43 EPS. On average, equities analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

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

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.