Natixis Advisors LLC Lowers Stock Position in Agree Realty Co. (NYSE:ADC)

Natixis Advisors LLC cut its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,078 shares of the real estate investment trust's stock after selling 13,796 shares during the period. Natixis Advisors LLC owned 0.09% of Agree Realty worth $6,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADC. CIBC Asset Management Inc purchased a new position in Agree Realty during the third quarter valued at $224,000. Pathstone Holdings LLC grew its position in shares of Agree Realty by 15.9% during the third quarter. Pathstone Holdings LLC now owns 25,833 shares of the real estate investment trust's stock valued at $1,946,000 after purchasing an additional 3,535 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Agree Realty during the third quarter valued at about $262,000. PNC Financial Services Group Inc. increased its holdings in shares of Agree Realty by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 14,914 shares of the real estate investment trust's stock worth $1,123,000 after purchasing an additional 549 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Agree Realty in the third quarter worth about $255,000. 97.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They set a "buy" rating and a $88.00 price objective for the company. Citizens Jmp cut shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. UBS Group upgraded shares of 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 research report on Monday, January 6th. Finally, BTIG Research lifted their price target on Agree Realty from $74.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $79.85.

Remove Ads

Agree Realty Trading Up 0.9 %

Shares of NYSE ADC traded up $0.67 during mid-day trading on Wednesday, reaching $75.80. The company had a trading volume of 963,462 shares, compared to its average volume of 923,942. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 42.59, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a 52 week low of $54.78 and a 52 week high of $78.39. The business's 50-day moving average is $73.53 and its 200-day moving average is $73.91. 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 issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. Equities analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.253 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, March 31st. Agree Realty's dividend payout ratio is 170.22%.

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.