abrdn plc raised its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 33.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,497 shares of the real estate investment trust's stock after acquiring an additional 6,924 shares during the quarter. abrdn plc's holdings in Agree Realty were worth $1,922,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ADC. UMB Bank n.a. increased its stake in shares of Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 168 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Agree Realty by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust's stock valued at $4,438,000 after buying an additional 224 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Agree Realty by 34.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 230 shares during the period. US Bancorp DE increased its stake in shares of Agree Realty by 1.5% in the third quarter. US Bancorp DE now owns 17,130 shares of the real estate investment trust's stock valued at $1,290,000 after buying an additional 252 shares during the period. Finally, Carmel Capital Partners LLC increased its stake in shares of Agree Realty by 4.0% in the third quarter. Carmel Capital Partners LLC now owns 6,727 shares of the real estate investment trust's stock valued at $507,000 after buying an additional 257 shares during the period. Institutional investors own 97.83% of the company's stock.
Agree Realty Stock Down 1.2 %
NYSE ADC traded down $0.85 on Friday, reaching $70.98. 738,394 shares of the stock traded hands, compared to its average volume of 873,793. 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 company has a fifty day moving average price of $71.71 and a 200-day moving average price of $73.46. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.87 and a beta of 0.65. Agree Realty Co. has a 12 month low of $54.28 and a 12 month high of $78.39.
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 the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. As a group, research analysts forecast that Agree Realty Co. will post 4.13 EPS for the current fiscal year.
Agree Realty Announces Dividend
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 paid a $0.253 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty's payout ratio is 167.96%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on ADC. Robert W. Baird increased their target price on shares of Agree Realty from $67.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Truist Financial increased their target price on shares of Agree Realty from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Citizens Jmp cut Agree Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Evercore ISI started coverage on Agree Realty in a report on Thursday, December 12th. They set an "outperform" rating and a $82.00 price target on the stock. Finally, StockNews.com cut Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, February 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $79.62.
View Our Latest Report on Agree Realty
Agree Realty 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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