Charles Schwab Investment Management Inc. Has $119.65 Million Stock Holdings in Agree Realty Co. (NYSE:ADC)

Charles Schwab Investment Management Inc. increased its holdings in Agree Realty Co. (NYSE:ADC) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,588,355 shares of the real estate investment trust’s stock after purchasing an additional 57,354 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.53% of Agree Realty worth $119,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADC. Daiwa Securities Group Inc. increased its holdings in Agree Realty by 55.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust’s stock worth $112,453,000 after purchasing an additional 650,921 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Agree Realty by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,522,014 shares of the real estate investment trust’s stock worth $94,273,000 after purchasing an additional 76,818 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Agree Realty by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,284,143 shares of the real estate investment trust’s stock valued at $79,540,000 after acquiring an additional 43,768 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in Agree Realty by 9,118.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock worth $92,487,000 after purchasing an additional 1,214,437 shares during the last quarter. Finally, PGGM Investments bought a new position in shares of Agree Realty in the second quarter valued at approximately $70,225,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $76.41 on Tuesday. Agree Realty Co. has a 12 month low of $54.28 and a 12 month high of $77.58. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $75.10 and a 200-day moving average price of $69.28.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The business had revenue of $154.33 million during 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%. Agree Realty’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. As a group, equities analysts anticipate that Agree Realty Co. will post 4.12 EPS for the current year.

Agree Realty Announces Dividend

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. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, November 29th. Agree Realty’s payout ratio is currently 167.40%.

Analyst Ratings Changes

A number of analysts recently issued reports on ADC shares. UBS Group raised their price objective on shares of Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Robert W. Baird upped their price target on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada increased their price objective on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho lifted 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, BTIG Research increased their price objective on Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.73.

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.