Allspring Global Investments Holdings LLC lessened its position in Agree Realty Co. (NYSE:ADC - Free Report) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 698,344 shares of the real estate investment trust's stock after selling 22,074 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.67% of Agree Realty worth $48,703,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock worth $274,693,000 after buying an additional 990,362 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust's stock worth $177,030,000 after acquiring an additional 534,545 shares during the period. FMR LLC raised its stake in Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust's stock valued at $168,648,000 after purchasing an additional 1,968,811 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Agree Realty by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust's stock valued at $156,327,000 after purchasing an additional 30,377 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Agree Realty by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust's stock worth $119,651,000 after purchasing an additional 57,354 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. JMP Securities lowered shares of Agree Realty from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 17th. StockNews.com raised Agree Realty from a "sell" rating to a "hold" rating in a report on Sunday. UBS Group raised 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. Barclays cut their target price on Agree Realty from $76.00 to $74.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Finally, Truist Financial lifted their price target on shares of Agree Realty from $77.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Agree Realty presently has an average rating of "Moderate Buy" and a consensus target price of $79.62.
Get Our Latest Stock Report on Agree Realty
Agree Realty Trading Down 1.2 %
NYSE ADC traded down $0.85 during trading on Monday, reaching $70.98. 738,394 shares of the stock traded hands, compared to its average volume of 717,054. The stock's 50-day moving average price is $71.64 and its 200 day moving average price is $73.52. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 2.87 and a beta of 0.65. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39.
Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly 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 net margin of 31.62% and a return on equity of 3.77%. Analysts predict that Agree Realty Co. will post 4.13 EPS for the current year.
Agree Realty Dividend Announcement
The company also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty's dividend payout ratio is currently 167.96%.
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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