HTLF Bank lowered its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,150 shares of the real estate investment trust's stock after selling 5,214 shares during the quarter. HTLF Bank's holdings in Agree Realty were worth $1,349,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in ADC. FMR LLC grew its stake in Agree Realty by 729.3% during the third 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. Pathway Financial Advisers LLC increased its holdings in shares of Agree Realty by 9,118.1% in 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 period. JPMorgan Chase & Co. boosted its stake in Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock valued at $274,693,000 after buying an additional 990,362 shares during the period. Daiwa Securities Group Inc. grew its position in Agree Realty by 29.4% during the third 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 increased its stake 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 worth $53,815,000 after acquiring an additional 343,400 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.
Analyst Ratings Changes
ADC has been the topic of a number of recent analyst reports. Citizens Jmp downgraded shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $79.00 price objective on shares of Agree Realty in a report on Tuesday, January 28th. BTIG Research raised their price target on Agree Realty from $74.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a report on Wednesday, December 11th. They issued a "buy" rating and a $88.00 price objective for the company. Finally, UBS Group raised Agree Realty from a "neutral" rating to a "buy" rating and raised their price objective for the company from $79.00 to $84.00 in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.93.
Get Our Latest Stock Report on ADC
Agree Realty Price Performance
Shares of Agree Realty stock traded down $1.33 during trading on Wednesday, reaching $71.27. 1,230,403 shares of the stock traded hands, compared to its average volume of 868,789. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 2.87 and a beta of 0.65. Agree Realty Co. has a 52-week low of $54.28 and a 52-week high of $78.39. The business has a fifty day simple moving average of $71.85 and a two-hundred day simple moving average of $73.46.
Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. Sell-side analysts expect that Agree Realty Co. will post 4.13 EPS for the current year.
Agree Realty Dividend Announcement
The business also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.253 dividend. This represents a dividend yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty's dividend payout ratio (DPR) is 167.96%.
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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