AGF Management Ltd. lessened its position in Agree Realty Co. (NYSE:ADC - Free Report) by 19.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,090 shares of the real estate investment trust's stock after selling 8,348 shares during the quarter. AGF Management Ltd.'s holdings in Agree Realty were worth $2,402,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust's stock valued at $168,648,000 after acquiring an additional 1,968,811 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Agree Realty in the fourth quarter valued at approximately $101,382,000. JPMorgan Chase & Co. increased its stake in Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock worth $274,693,000 after buying an additional 990,362 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Agree Realty by 29.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust's stock worth $177,030,000 after buying an additional 534,545 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Agree Realty by 92.6% in the 3rd quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust's stock valued at $53,815,000 after buying an additional 343,400 shares during the period. Institutional investors and hedge funds own 97.83% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Stifel Nicolaus cut their price objective on Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. BTIG Research upped their price target on Agree Realty from $74.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $74.00 to $75.00 in a research report on Tuesday, March 4th. Mizuho lowered their price objective on Agree Realty from $80.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, Citizens Jmp cut shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Agree Realty currently has an average rating of "Moderate Buy" and an average price target of $79.85.
Check Out Our Latest Analysis on Agree Realty
Agree Realty Stock Performance
NYSE ADC opened at $75.73 on Friday. The company has a fifty day moving average of $72.51 and a two-hundred day moving average of $73.76. The company has a market capitalization of $8.12 billion, a PE ratio of 42.54, a P/E/G ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a 1 year low of $54.78 and a 1 year high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.
Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. As a group, analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current year.
Agree Realty Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.253 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.01%. Agree Realty's payout ratio is 170.22%.
Agree Realty Company Profile
(
Free Report)
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.
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