Lasalle Investment Management Securities LLC Acquires 18,188 Shares of Agree Realty Co. (NYSE:ADC)

Lasalle Investment Management Securities LLC increased its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 208,820 shares of the real estate investment trust's stock after acquiring an additional 18,188 shares during the period. Lasalle Investment Management Securities LLC owned approximately 0.20% of Agree Realty worth $14,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ADC. MetLife Investment Management LLC increased its holdings in shares of Agree Realty by 11.7% in the fourth quarter. MetLife Investment Management LLC now owns 61,326 shares of the real estate investment trust's stock worth $4,320,000 after purchasing an additional 6,414 shares during the period. Dimensional Fund Advisors LP increased its stake in Agree Realty by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,550,140 shares of the real estate investment trust's stock worth $109,206,000 after acquiring an additional 23,162 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Agree Realty by 77.0% in the 4th quarter. First Trust Advisors LP now owns 93,257 shares of the real estate investment trust's stock valued at $6,570,000 after acquiring an additional 40,577 shares in the last quarter. GeoWealth Management LLC boosted its position in shares of Agree Realty by 671.7% during the 4th quarter. GeoWealth Management LLC now owns 2,539 shares of the real estate investment trust's stock valued at $179,000 after acquiring an additional 2,210 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Agree Realty by 4.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 199,658 shares of the real estate investment trust's stock worth $14,061,000 after purchasing an additional 8,576 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ADC. StockNews.com upgraded shares of Agree Realty from a "sell" rating to a "hold" rating in a research report on Sunday, February 16th. 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 report on Thursday, February 13th. Stifel Nicolaus increased their target price on Agree Realty from $81.00 to $82.50 and gave the company a "buy" rating in a research note on Wednesday. Mizuho lifted their price target on Agree Realty from $74.00 to $81.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company increased their price objective on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Five research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $80.58.

Agree Realty Trading Down 1.3 %

Shares of NYSE ADC traded down $0.97 during mid-day trading on Thursday, hitting $76.25. The stock had a trading volume of 3,518,398 shares, compared to its average volume of 1,005,751. The business has a 50 day moving average price of $75.06 and a two-hundred day moving average price of $73.99. Agree Realty Co. has a 1 year low of $57.02 and a 1 year high of $79.70. 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 market cap of $8.19 billion, a P/E ratio of 42.84, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The firm had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same quarter in the previous year, the company earned $0.43 earnings per share. On average, equities analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The firm also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.256 per share. This is a positive change from Agree Realty's previous apr 25 dividend of $0.25. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a yield of 4.1%. Agree Realty's dividend payout ratio is presently 172.47%.

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.