Nomura Asset Management Co. Ltd. Has $9.75 Million Position in Agree Realty Co. (NYSE:ADC)

Nomura Asset Management Co. Ltd. increased its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 138,370 shares of the real estate investment trust's stock after purchasing an additional 5,490 shares during the period. Nomura Asset Management Co. Ltd. owned 0.13% of Agree Realty worth $9,748,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADC. Versant Capital Management Inc boosted its stake in shares of Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 293 shares during the period. Financial Life Planners bought a new position in Agree Realty during the fourth quarter worth $44,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Agree Realty by 34.4% in 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 purchasing an additional 230 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Agree Realty in the third quarter valued at about $77,000. Finally, UMB Bank n.a. lifted its stake in shares of Agree Realty by 17.3% during the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock worth $80,000 after buying an additional 168 shares during the last quarter. Institutional investors own 97.83% of the company's stock.

Agree Realty Price Performance

Shares of ADC stock traded down $2.45 on Friday, hitting $74.34. 1,582,250 shares of the company's stock were exchanged, compared to its average volume of 962,900. The company has a 50 day moving average of $74.22 and a 200 day moving average of $73.94. The stock has a market cap of $7.98 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. 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 12 month low of $54.78 and a 12 month high of $78.39.

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Agree Realty (NYSE:ADC - Get Free Report) last posted 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%. On average, equities research analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The business also recently announced 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 of this dividend is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.08%. Agree Realty's payout ratio is presently 170.22%.

Wall Street Analysts Forecast Growth

ADC has been the topic of a number of recent research reports. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. Evercore ISI initiated coverage on Agree Realty in a research report on Thursday, December 12th. They set an "outperform" rating and a $82.00 price objective on the stock. JMP Securities cut shares of Agree Realty from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 17th. Citizens Jmp lowered shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, UBS Group upgraded shares of Agree Realty from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Agree Realty currently has an average rating of "Moderate Buy" and a consensus target price of $80.38.

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.