Sei Investments Co. Increases Stock Position in Agree Realty Co. (NYSE:ADC)

Sei Investments Co. increased its position in Agree Realty Co. (NYSE:ADC - Free Report) by 91.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,253 shares of the real estate investment trust's stock after buying an additional 216,852 shares during the period. Sei Investments Co. owned 0.44% of Agree Realty worth $32,002,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Agree Realty by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust's stock worth $220,000 after acquiring an additional 153 shares in the last quarter. Carmel Capital Partners LLC increased its position in Agree Realty by 2.5% in the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust's stock worth $486,000 after purchasing an additional 167 shares during the last quarter. UMB Bank n.a. raised its stake in Agree Realty by 17.3% during 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 purchasing an additional 168 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Agree Realty by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust's stock valued at $323,000 after purchasing an additional 169 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Agree Realty by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust's stock worth $346,000 after buying an additional 170 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

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Agree Realty Trading Up 0.7 %

ADC stock traded up $0.56 during trading on Friday, hitting $76.56. The company had a trading volume of 765,519 shares, compared to its average volume of 952,021. Agree Realty Co. has a 52-week low of $54.78 and a 52-week high of $78.39. The company has a 50 day simple moving average of $73.80 and a 200-day simple moving average of $73.92. The firm has a market capitalization of $8.22 billion, a P/E ratio of 43.01, a PEG ratio of 2.88 and a beta of 0.64. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. As a group, research analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 14th. Shareholders 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 yield of 3.97%. The ex-dividend date is Monday, March 31st. Agree Realty's dividend payout ratio (DPR) is presently 170.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays raised shares of Agree Realty from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Mizuho cut their target price on Agree Realty from $80.00 to $74.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Citizens Jmp lowered shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Five equities research 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.85.

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.