Landscape Capital Management L.L.C. Makes New $762,000 Investment in Agree Realty Co. (NYSE:ADC)

Landscape Capital Management L.L.C. bought a new stake in Agree Realty Co. (NYSE:ADC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 10,117 shares of the real estate investment trust’s stock, valued at approximately $762,000.

Other large investors have also made changes to their positions in the company. MCF Advisors LLC acquired a new position in Agree Realty in the second quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew its position in shares of Agree Realty by 248.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 442 shares during the period. Headlands Technologies LLC increased its stake in Agree Realty by 232.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 798 shares in the last quarter. UMB Bank n.a. raised its holdings in Agree Realty by 44.5% during the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 299 shares during the period. Finally, Arcadia Investment Management Corp MI bought a new position in Agree Realty in the third quarter valued at approximately $75,000. Institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADC. Robert W. Baird increased their price objective on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Truist Financial lifted their price target on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BTIG Research upped their price objective on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Raymond James lifted their target price on Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company reduced their price target on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Four investment 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.73.

Agree Realty Stock Performance

Shares of ADC opened at $76.45 on Friday. The company has a market cap of $7.91 billion, a PE ratio of 42.22, a price-to-earnings-growth ratio of 3.13 and a beta of 0.61. The firm has a 50-day moving average of $75.10 and a 200-day moving average of $69.13. Agree Realty Co. has a one year low of $54.28 and a one year high of $77.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The business had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Agree Realty Co. will post 4.12 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.253 per share. The ex-dividend date is Friday, November 29th. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. Agree Realty’s dividend payout ratio (DPR) is 167.96%.

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.