KBC Group NV Has $3.07 Million Stock Holdings in Agree Realty Co. (NYSE:ADC)

KBC Group NV increased its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 1,670.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,561 shares of the real estate investment trust's stock after buying an additional 41,101 shares during the period. KBC Group NV's holdings in Agree Realty were worth $3,069,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Citigroup Inc. boosted its position in shares of 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 in the last quarter. JPMorgan Chase & Co. lifted 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 valued at $274,693,000 after acquiring an additional 990,362 shares during the period. Vanderbilt University increased its stake in shares of Agree Realty by 148.9% in the third quarter. Vanderbilt University now owns 16,933 shares of the real estate investment trust's stock worth $1,276,000 after acquiring an additional 10,129 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings 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 worth $8,912,000 after purchasing an additional 33,914 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Agree Realty by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust's stock valued at $119,651,000 after purchasing an additional 57,354 shares during the period. Institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

Shares of NYSE ADC traded down $0.50 during trading on Friday, reaching $72.60. The stock had a trading volume of 621,294 shares, compared to its average volume of 840,598. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $7.52 billion, a PE ratio of 40.11, a P/E/G ratio of 2.54 and a beta of 0.64. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. The firm's 50 day moving average price is $72.45 and its two-hundred day moving average price is $73.11.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Friday, January 31st. Agree Realty's payout ratio is currently 167.40%.

Analyst Upgrades and Downgrades

ADC has been the subject of several analyst reports. StockNews.com cut shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Friday. KeyCorp upped their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, October 4th. Evercore ISI started coverage on Agree Realty in a research note on Thursday, December 12th. They issued an "outperform" rating and a $82.00 price target for the company. Barclays began coverage on Agree Realty in a research report on Tuesday, December 17th. They set an "underweight" rating and a $76.00 price target on the stock. Finally, Truist Financial boosted their price objective on Agree Realty from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Agree Realty presently has an average rating of "Moderate Buy" and a consensus price target of $79.07.

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.