Agree Realty Co. (NYSE:ADC) Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC reduced its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 13.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,197,319 shares of the real estate investment trust's stock after selling 341,008 shares during the period. Agree Realty makes up 1.6% of Centersquare Investment Management LLC's portfolio, making the stock its 24th largest holding. Centersquare Investment Management LLC owned approximately 2.12% of Agree Realty worth $154,801,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in shares of Agree Realty by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust's stock worth $220,000 after purchasing an additional 153 shares during the period. Carmel Capital Partners LLC raised its stake in shares of Agree Realty by 2.5% in the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust's stock valued at $486,000 after acquiring an additional 167 shares during the period. UMB Bank n.a. lifted its holdings in shares of Agree Realty by 17.3% in 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 last quarter. Sequoia Financial Advisors LLC raised its position in Agree Realty by 3.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust's stock worth $323,000 after purchasing an additional 169 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Agree Realty by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust's stock valued at $346,000 after buying an additional 170 shares during the period. 97.83% of the stock is currently owned by institutional investors.

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Agree Realty Price Performance

Shares of Agree Realty stock traded down $0.09 on Wednesday, hitting $70.59. The company's stock had a trading volume of 488,121 shares, compared to its average volume of 974,268. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 39.65, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a 1 year low of $54.78 and a 1 year 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 firm has a fifty day moving average price of $74.08 and a 200-day moving average price of $73.84.

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

Agree Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.253 per share. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.30%. Agree Realty's dividend payout ratio (DPR) is presently 170.22%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JMP Securities lowered Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. StockNews.com raised Agree Realty from a "sell" rating to a "hold" rating in a research note on Sunday, February 16th. Stifel Nicolaus dropped their target price on Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Evercore ISI assumed coverage on shares of Agree Realty in a research note on Thursday, December 12th. They issued an "outperform" rating and a $82.00 target price for the company. Finally, Citizens Jmp downgraded shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $80.38.

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.