Agree Realty Co. (NYSE:ADC) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 108.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,000 shares of the real estate investment trust's stock after buying an additional 13,528 shares during the quarter. HighTower Advisors LLC's holdings in Agree Realty were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in 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 worth $30,000 after purchasing an additional 293 shares during the period. Financial Life Planners bought a new position in Agree Realty during the 4th quarter valued at approximately $44,000. MassMutual Private Wealth & Trust FSB increased 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 valued at $63,000 after acquiring an additional 230 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Agree Realty in the third quarter worth about $77,000. Finally, UMB Bank n.a. lifted its position 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 acquiring an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

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Agree Realty Stock Up 0.2 %

Agree Realty stock traded up $0.18 during trading hours on Thursday, reaching $76.01. The stock had a trading volume of 899,452 shares, compared to its average volume of 1,088,146. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 42.70, a PEG ratio of 2.88 and a beta of 0.64. The business's 50 day moving average price is $73.64 and its 200-day moving average price is $73.92. Agree Realty Co. has a 52 week low of $54.78 and a 52 week high of $78.39. 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 (NYSE:ADC - Get Free Report) last announced 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%. Sell-side analysts anticipate 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 paid a dividend of $0.253 per share. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a yield of 3.99%. Agree Realty's payout ratio is 170.22%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADC. Royal Bank of Canada cut their target price on shares of Agree Realty from $79.00 to $78.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. BTIG Research lifted their price objective on Agree Realty from $74.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Citizens Jmp cut shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Stifel Nicolaus reduced their target price 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. Finally, Mizuho decreased their price target on Agree Realty from $80.00 to $74.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Agree Realty 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.