Agree Realty Co. (NYSE:ADC) Stock Position Lifted by Vanderbilt University

Vanderbilt University raised its position in Agree Realty Co. (NYSE:ADC - Free Report) by 52.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,879 shares of the real estate investment trust's stock after purchasing an additional 8,946 shares during the period. Vanderbilt University's holdings in Agree Realty were worth $1,823,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Citigroup Inc. boosted its stake in 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 buying an additional 270,093 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock worth $274,693,000 after acquiring an additional 990,362 shares during the last quarter. Spire Wealth Management purchased a new stake in Agree Realty in the fourth quarter valued at approximately $411,000. KBC Group NV increased its position in Agree Realty by 1,670.8% during the fourth quarter. KBC Group NV now owns 43,561 shares of the real estate investment trust's stock worth $3,069,000 after purchasing an additional 41,101 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in 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 period. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Stock Down 0.2 %

Agree Realty stock traded down $0.15 during midday trading on Friday, hitting $72.92. 578,908 shares of the stock were exchanged, compared to its average volume of 717,054. 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 50 day moving average price of $72.03 and a two-hundred day moving average price of $73.33. The firm has a market cap of $7.55 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.87 and a beta of 0.65. Agree Realty Co. has a 1 year low of $54.28 and a 1 year high of $78.39.

Agree Realty Announces Dividend

The firm also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.253 dividend. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty's dividend payout ratio (DPR) is 167.96%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI assumed coverage on Agree Realty in a report on Thursday, December 12th. They set an "outperform" rating and a $82.00 price objective for the company. JMP Securities lowered Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Mizuho cut their price objective on Agree Realty from $80.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Barclays decreased their target price on Agree Realty from $76.00 to $74.00 and set an "underweight" rating for the company in a report on Tuesday, February 4th. Finally, UBS Group upgraded shares of Agree Realty from a "neutral" rating to a "buy" rating and raised their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $78.93.

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.