Handelsbanken Fonder AB Sells 8,000 Shares of Agree Realty Co. (NYSE:ADC)

Handelsbanken Fonder AB cut its position in Agree Realty Co. (NYSE:ADC - Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,337 shares of the real estate investment trust's stock after selling 8,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Agree Realty were worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ADC. Versant Capital Management Inc raised 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 valued at $30,000 after acquiring an additional 293 shares in the last quarter. Financial Life Planners acquired a new position in shares of Agree Realty during the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Agree Realty by 34.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 230 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Agree Realty in the third quarter worth approximately $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Agree Realty during the third quarter worth $77,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Price Performance

Shares of Agree Realty stock traded up $0.12 during midday trading on Friday, reaching $73.81. The company had a trading volume of 1,405,151 shares, compared to its average volume of 921,478. The stock has a fifty day simple moving average of $71.62 and a 200 day simple moving average of $73.56. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.65. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $78.39. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52.

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, equities research analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.253 per share. This represents a dividend yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty's dividend payout ratio (DPR) is presently 170.22%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BTIG Research boosted their target price on shares of Agree Realty from $74.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Stifel Nicolaus reduced their target price on Agree Realty from $81.50 to $81.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. JMP Securities lowered Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Barclays cut their price objective on shares of Agree Realty from $76.00 to $74.00 and set an "underweight" rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada dropped their price objective on shares of Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.62.

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.