Loomis Sayles & Co. L P Purchases 5,021 Shares of Agree Realty Co. (NYSE:ADC)

Loomis Sayles & Co. L P boosted its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 323,852 shares of the real estate investment trust's stock after acquiring an additional 5,021 shares during the quarter. Loomis Sayles & Co. L P owned 0.31% of Agree Realty worth $22,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADC. UniSuper Management Pty Ltd boosted its holdings in shares of Agree Realty by 7.1% in the 4th quarter. UniSuper Management Pty Ltd now owns 30,000 shares of the real estate investment trust's stock worth $2,114,000 after buying an additional 2,000 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Agree Realty by 5.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 68,023 shares of the real estate investment trust's stock worth $4,784,000 after purchasing an additional 3,600 shares during the period. Vanguard Group Inc. lifted its stake in Agree Realty by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock valued at $1,025,044,000 after purchasing an additional 219,806 shares during the last quarter. LPL Financial LLC grew its stake in shares of Agree Realty by 35.2% during the 4th quarter. LPL Financial LLC now owns 39,342 shares of the real estate investment trust's stock worth $2,772,000 after acquiring an additional 10,252 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Agree Realty in the 4th quarter valued at approximately $1,816,000. 97.83% of the stock is owned by institutional investors.

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Agree Realty Stock Down 0.4 %

ADC stock traded down $0.33 on Wednesday, reaching $76.51. 208,524 shares of the company traded hands, compared to its average volume of 953,462. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day simple moving average of $73.96 and a 200-day simple moving average of $73.92. Agree Realty Co. has a one year low of $54.78 and a one year high of $78.39. The company has a market cap of $8.21 billion, a P/E ratio of 42.96, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64.

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 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current 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 given a dividend of $0.253 per share. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a yield of 3.97%. Agree Realty's dividend payout ratio (DPR) is presently 170.22%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADC. Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. Royal Bank of Canada lowered their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Citizens Jmp cut shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. StockNews.com raised shares of Agree Realty from a "sell" rating to a "hold" rating in a report on Sunday, February 16th. Finally, Wells Fargo & Company upped their price target on shares of Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $79.85.

About Agree Realty

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.