Russell Investments Group Ltd. cut its stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,047,485 shares of the real estate investment trust's stock after selling 12,636 shares during the quarter. Russell Investments Group Ltd. owned about 1.01% of Agree Realty worth $73,795,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 293 shares during the period. Headlands Technologies LLC lifted its stake in shares of Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 235 shares during the period. Financial Life Planners acquired a new position in shares of Agree Realty in the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Agree Realty by 34.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock worth $63,000 after buying an additional 230 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Agree Realty in the third quarter valued at $77,000. 97.83% of the stock is owned by institutional investors and hedge funds.
Agree Realty Stock Up 1.9 %
Shares of NYSE ADC traded up $1.39 during trading on Friday, reaching $74.34. 368,593 shares of the stock were exchanged, compared to its average volume of 974,131. The business's 50-day moving average price is $74.09 and its 200 day moving average price is $73.81. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39. 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 announced its 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, equities analysts forecast that Agree Realty Co. will post 4.27 EPS for the current fiscal year.
Agree Realty Dividend Announcement
The firm also recently announced a apr 25 dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.256 per share. Agree Realty's payout ratio is 170.22%.
Analyst Upgrades and Downgrades
ADC has been the subject of a number of recent analyst reports. StockNews.com upgraded Agree Realty from a "sell" rating to a "hold" rating in a research report on Sunday, February 16th. Mizuho upped their price objective on shares of Agree Realty from $74.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Barclays upgraded shares of Agree Realty from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $74.00 to $75.00 in a research report on Tuesday, March 4th. UBS Group upgraded Agree Realty from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Finally, Citizens Jmp lowered Agree Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Five 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.38.
Get Our Latest Stock Report on ADC
About Agree Realty
(
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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