Motley Fool Wealth Management LLC Lowers Stock Position in Agree Realty Co. (NYSE:ADC)

Motley Fool Wealth Management LLC reduced its position in Agree Realty Co. (NYSE:ADC - Free Report) by 23.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,997 shares of the real estate investment trust's stock after selling 7,842 shares during the period. Motley Fool Wealth Management LLC's holdings in Agree Realty were worth $1,831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in shares of Agree Realty during the 4th quarter valued at approximately $411,000. abrdn plc boosted its holdings in shares of Agree Realty by 33.7% in the fourth quarter. abrdn plc now owns 27,497 shares of the real estate investment trust's stock worth $1,922,000 after acquiring an additional 6,924 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 990,362 shares during the period. Sage Investment Counsel LLC purchased a new stake in Agree Realty during the 4th quarter worth about $329,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Agree Realty by 24.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,129 shares of the real estate investment trust's stock worth $1,348,000 after purchasing an additional 3,776 shares in the last quarter. Institutional investors own 97.83% of the company's stock.

Agree Realty Stock Performance

Shares of ADC opened at $77.28 on Tuesday. The firm has a market capitalization of $8.30 billion, a P/E ratio of 43.42, a PEG ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. Agree Realty Co. has a one year low of $54.78 and a one year high of $78.39. The business has a fifty day moving average of $73.89 and a 200 day moving average of $73.91.

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

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty's dividend payout ratio is presently 170.22%.

Analyst Upgrades and Downgrades

ADC has been the topic of a number of recent analyst reports. Mizuho lowered their price target on shares of Agree Realty from $80.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus cut their price target on shares of Agree Realty from $81.50 to $81.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company upped their price target on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $74.00 to $75.00 in a research report on Tuesday, March 4th. Finally, Evercore ISI initiated coverage on Agree Realty in a research report on Thursday, December 12th. They set an "outperform" rating and a $82.00 target price for the company. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Agree Realty currently 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.