Bahl & Gaynor Inc. grew its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 471,020 shares of the real estate investment trust's stock after acquiring an additional 51,075 shares during the quarter. Bahl & Gaynor Inc. owned 0.46% of Agree Realty worth $33,183,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc grew its position in shares of 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 purchasing an additional 293 shares in the last quarter. Financial Life Planners bought a new stake in shares of Agree Realty in the fourth quarter valued at approximately $44,000. MassMutual Private Wealth & Trust FSB grew its position 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. Wilmington Savings Fund Society FSB bought a new position in Agree Realty during the 3rd quarter worth $77,000. Finally, UMB Bank n.a. increased its stake in Agree Realty by 17.3% during the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock worth $80,000 after acquiring an additional 168 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on ADC shares. Royal Bank of Canada reduced their target price on Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. JMP Securities downgraded shares of Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They issued a "buy" rating and a $88.00 target price for the company. BTIG Research increased their price target on shares of Agree Realty from $74.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus decreased their price objective on shares of 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 research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $79.69.
Get Our Latest Analysis on ADC
Agree Realty Price Performance
Shares of ADC traded up $1.01 during trading hours on Friday, reaching $75.95. The stock had a trading volume of 1,747,237 shares, compared to its average volume of 952,899. 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 12 month low of $54.78 and a 12 month high of $78.39. The stock has a market capitalization of $8.15 billion, a PE ratio of 42.67, a PEG ratio of 2.88 and a beta of 0.65. The company's 50-day moving average is $71.94 and its two-hundred day moving average is $73.64.
Agree Realty (NYSE:ADC - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating the consensus estimate 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 expect that Agree Realty Co. will post 4.27 EPS for the current year.
Agree Realty Dividend Announcement
The firm also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued 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 payout ratio is 170.22%.
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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