GW&K Investment Management LLC increased its position in Agree Realty Co. (NYSE:ADC - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,056,071 shares of the real estate investment trust's stock after purchasing an additional 4,863 shares during the quarter. GW&K Investment Management LLC owned approximately 1.02% of Agree Realty worth $74,400,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of ADC. Proficio Capital Partners LLC purchased a new position in shares of Agree Realty during the fourth quarter valued at $1,459,000. Oppenheimer Asset Management Inc. grew 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 acquiring an additional 3,776 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Agree Realty by 2.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,054 shares of the real estate investment trust's stock valued at $1,483,000 after purchasing an additional 600 shares during the period. Amalgamated Bank raised its holdings in shares of Agree Realty by 2.4% in the 4th quarter. Amalgamated Bank now owns 48,972 shares of the real estate investment trust's stock valued at $3,450,000 after purchasing an additional 1,166 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Agree Realty by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,219,512 shares of the real estate investment trust's stock worth $85,915,000 after purchasing an additional 85,664 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on ADC shares. Mizuho reduced their price objective on shares of Agree Realty from $80.00 to $74.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada reduced 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. JMP Securities downgraded Agree Realty from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 17th. Barclays upgraded shares of Agree Realty from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $74.00 to $75.00 in a report on Tuesday. Finally, Citizens Jmp cut shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $79.69.
Check Out Our Latest Stock Analysis on ADC
Agree Realty Stock Performance
Shares of NYSE ADC traded up $0.26 during mid-day trading on Tuesday, hitting $74.34. The stock had a trading volume of 1,191,871 shares, compared to its average volume of 919,684. The firm has a market cap of $7.97 billion, a PE ratio of 41.76, a PEG ratio of 2.88 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50 day moving average of $71.69 and a two-hundred day moving average of $73.59. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39.
Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share 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%. Research analysts predict that Agree Realty Co. will post 4.27 EPS for the current fiscal year.
Agree Realty Dividend Announcement
The firm also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.253 per share. This represents a yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty's dividend payout ratio is presently 170.22%.
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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