American Century Companies Inc. Has $133.44 Million Holdings in Agree Realty Co. (NYSE:ADC)

American Century Companies Inc. decreased its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,894,047 shares of the real estate investment trust's stock after selling 524,814 shares during the quarter. American Century Companies Inc. owned about 1.83% of Agree Realty worth $133,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ADC. Versant Capital Management Inc grew its holdings in Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 293 shares during the period. Financial Life Planners bought a new position in shares of Agree Realty in the 4th quarter worth $44,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 purchasing an additional 230 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Agree Realty in the third quarter valued at about $77,000. Finally, UMB Bank n.a. lifted its stake in Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 168 shares during the period. 97.83% of the stock is owned by institutional investors.

Agree Realty Stock Down 0.7 %

Agree Realty stock traded down $0.55 during mid-day trading on Tuesday, reaching $75.17. The company's stock had a trading volume of 286,387 shares, compared to its average volume of 925,065. The business's 50 day simple moving average is $73.44 and its 200 day simple moving average is $73.91. Agree Realty Co. has a 12 month low of $54.78 and a 12 month high of $78.39. 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 market capitalization of $8.06 billion, a price-to-earnings ratio of 42.26, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64.

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Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results 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%. As a group, research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty's dividend payout ratio is currently 170.22%.

Wall Street Analysts Forecast Growth

ADC has been the subject of several analyst reports. StockNews.com upgraded Agree Realty from a "sell" rating to a "hold" rating in a research report on Sunday, February 16th. BTIG Research boosted their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Barclays upgraded shares of Agree Realty from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. Citizens Jmp lowered shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, Stifel Nicolaus dropped their price objective on Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.85.

Agree Realty Company 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.