Daiwa Securities Group Inc. lowered its stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,233,377 shares of the real estate investment trust's stock after selling 116,679 shares during the quarter. Daiwa Securities Group Inc. owned about 2.16% of Agree Realty worth $157,341,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 293 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Agree Realty during the fourth quarter worth $44,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 purchased a new position in Agree Realty in the 3rd quarter valued at $77,000. Finally, UMB Bank n.a. increased its stake in 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 valued at $80,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 97.83% of the company's stock.
Agree Realty Price Performance
NYSE ADC traded up $0.48 during trading hours on Thursday, reaching $75.73. The company's stock had a trading volume of 1,722,725 shares, compared to its average volume of 1,002,930. 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 stock has a market cap of $8.12 billion, a PE ratio of 42.54, a PEG ratio of 2.88 and a beta of 0.64. The company's 50-day moving average is $72.39 and its two-hundred day moving average is $73.74. Agree Realty Co. has a fifty-two week low of $54.78 and a fifty-two week high of $78.39.
Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly 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 net margin of 30.66% and a return on equity of 3.70%. Analysts forecast that Agree Realty Co. will post 4.27 EPS for the current year.
Agree Realty Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty's payout ratio is 170.22%.
Wall Street Analyst Weigh In
Several research firms have recently commented on ADC. Wells Fargo & Company raised their target price on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a research note on Monday. Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. 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. Royal Bank of Canada reduced their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, StockNews.com raised Agree Realty from a "sell" rating to a "hold" rating in a report on Sunday, February 16th. Five research 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 company's stock. According to data from MarketBeat.com, Agree Realty has a consensus rating of "Moderate Buy" and a consensus price target of $79.85.
View Our Latest Analysis on Agree Realty
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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