Vanguard Group Inc. Increases Stock Position in Agree Realty Co. (NYSE:ADC)

Vanguard Group Inc. raised its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,549,952 shares of the real estate investment trust's stock after acquiring an additional 219,806 shares during the period. Vanguard Group Inc. owned approximately 14.06% of Agree Realty worth $1,025,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 293 shares during the last quarter. Financial Life Planners purchased a new position in shares of Agree Realty in the 4th quarter worth $44,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Agree Realty by 34.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock worth $63,000 after buying an additional 230 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Agree Realty during the 3rd quarter valued at about $77,000. Finally, UMB Bank n.a. lifted its holdings in shares of Agree Realty by 17.3% in the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 168 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

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Agree Realty Trading Down 0.1 %

Agree Realty stock traded down $0.08 during trading hours on Wednesday, hitting $76.76. The company had a trading volume of 132,439 shares, compared to its average volume of 953,181. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $8.24 billion, a P/E ratio of 43.13, a P/E/G ratio of 2.88 and a beta of 0.64. The company has a 50-day moving average price of $73.96 and a two-hundred day moving average price of $73.92. Agree Realty Co. has a 1 year low of $54.78 and a 1 year high of $78.39.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. On average, sell-side analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 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 3.96%. The ex-dividend date is Monday, March 31st. Agree Realty's payout ratio is 170.22%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADC shares. JMP Securities cut Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Agree Realty in a research report on Wednesday, December 11th. They set a "buy" rating and a $88.00 target price on the stock. Evercore ISI began coverage on Agree Realty in a research report on Thursday, December 12th. They issued an "outperform" rating and a $82.00 price target for the company. Stifel Nicolaus cut their price objective on shares of Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company increased their target price on shares of Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $79.85.

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.