HighTower Advisors LLC Has $1.83 Million Holdings in Agree Realty Co. (NYSE:ADC)

HighTower Advisors LLC grew its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 108.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,000 shares of the real estate investment trust's stock after purchasing an additional 13,528 shares during the period. HighTower Advisors LLC's holdings in Agree Realty were worth $1,832,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in shares of Agree Realty by 230.7% in the fourth 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 during the period. Financial Life Planners purchased a new position in Agree Realty in the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB increased its stake 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 buying an additional 230 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Agree Realty during the 3rd quarter worth $77,000. Finally, UMB Bank n.a. boosted its holdings in shares of 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 acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Agree Realty Trading Down 0.4 %

Agree Realty stock traded down $0.30 during midday trading on Tuesday, reaching $75.41. The stock had a trading volume of 247,469 shares, compared to its average volume of 925,065. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 42.37, a PEG ratio of 2.88 and a beta of 0.64. The firm's fifty day simple moving average is $73.44 and its two-hundred day simple moving average is $73.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39.

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Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a yield of 4.03%. Agree Realty's dividend payout ratio (DPR) is currently 170.22%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADC. UBS Group raised Agree Realty from a "neutral" rating to a "buy" rating and upped their target price for the company from $79.00 to $84.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Agree Realty in a report on Wednesday, December 11th. They set a "buy" rating and a $88.00 target price for the company. Mizuho dropped their target price on Agree Realty from $80.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Finally, StockNews.com upgraded Agree Realty from a "sell" rating to a "hold" rating in a research note on Sunday, February 16th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.85.

Agree Realty 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.