American Century Companies Inc. Decreases Position in Agree Realty Co. (NYSE:ADC)

American Century Companies Inc. lowered its stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 21.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,894,047 shares of the real estate investment trust's stock after selling 524,814 shares during the period. American Century Companies Inc. owned approximately 1.83% of Agree Realty worth $133,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ADC. JPMorgan Chase & Co. boosted its stake in 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 worth $274,693,000 after acquiring an additional 990,362 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of 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 purchasing an additional 534,545 shares during the period. FMR LLC lifted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew its position in shares of 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. increased its position in shares of Agree Realty by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust's stock worth $115,936,000 after acquiring an additional 57,297 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ADC has been the subject of several recent research reports. Mizuho reduced their price objective on Agree Realty from $80.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They issued a "buy" rating and a $88.00 price objective on the stock. JMP Securities lowered shares of Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Stifel Nicolaus decreased their price objective on Agree Realty from $81.50 to $81.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, Citizens Jmp lowered shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.85.

Agree Realty Trading Up 0.2 %

Shares of ADC stock traded up $0.18 on Thursday, hitting $76.01. The company had a trading volume of 899,452 shares, compared to its average volume of 924,183. The stock's 50-day moving average is $73.64 and its two-hundred day moving average is $73.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39. The firm has a market cap of $8.16 billion, a P/E ratio of 42.70, a P/E/G ratio of 2.88 and a beta of 0.64.

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 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%. On average, equities research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 3.99%. The ex-dividend date is Monday, March 31st. Agree Realty's dividend payout ratio (DPR) is presently 170.22%.

About Agree Realty

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.