Jane Street Group LLC Acquires 90,143 Shares of Agree Realty Co. (NYSE:ADC)

Jane Street Group LLC lifted its holdings in Agree Realty Co. (NYSE:ADC) by 833.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,958 shares of the real estate investment trust’s stock after acquiring an additional 90,143 shares during the period. Jane Street Group LLC owned 0.10% of Agree Realty worth $7,605,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADC. Citigroup Inc. boosted its stake in Agree Realty by 348.9% in the 3rd quarter. Citigroup Inc. now owns 347,496 shares of the real estate investment trust’s stock worth $26,177,000 after purchasing an additional 270,093 shares during the period. AQR Capital Management LLC increased its holdings in Agree Realty by 67.4% in the 2nd quarter. AQR Capital Management LLC now owns 462,868 shares of the real estate investment trust’s stock valued at $28,476,000 after acquiring an additional 186,285 shares during the last quarter. Vanderbilt University boosted its holdings in shares of Agree Realty by 148.9% during the 3rd quarter. Vanderbilt University now owns 16,933 shares of the real estate investment trust’s stock valued at $1,276,000 after purchasing an additional 10,129 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Agree Realty by 40.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 118,306 shares of the real estate investment trust’s stock valued at $8,912,000 after purchasing an additional 33,914 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Agree Realty by 11.4% in the third quarter. Private Advisor Group LLC now owns 4,739 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

ADC stock opened at $74.67 on Friday. Agree Realty Co. has a twelve month low of $54.28 and a twelve month high of $78.39. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 3.66 and a beta of 0.62. The business’s fifty day simple moving average is $75.23 and its two-hundred day simple moving average is $70.76. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52.

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 the consensus estimate of $1.03 by ($0.61). The company had revenue of $154.33 million during the quarter, compared to analysts’ expectations of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. Analysts predict that Agree Realty Co. will post 4.12 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, December 31st. Agree Realty’s payout ratio is 167.96%.

Analyst Upgrades and Downgrades

ADC has been the subject of a number of research reports. StockNews.com lowered Agree Realty from a “hold” rating to a “sell” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Agree Realty in a research note on Wednesday. They set a “buy” rating and a $88.00 price target on the stock. KeyCorp lifted their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Mizuho upped their target price on shares of Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Truist Financial lifted their price target on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.18.

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.