OVERSEA CHINESE BANKING Corp Ltd cut its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,420 shares of the real estate investment trust's stock after selling 4,351 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned 0.06% of Agree Realty worth $4,468,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings 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 in the last quarter. Financial Life Planners purchased a new stake in shares of Agree Realty during the 4th quarter worth approximately $44,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 230 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Agree Realty during the 3rd quarter worth approximately $77,000. Finally, UMB Bank n.a. raised its holdings 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 acquiring an additional 168 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
Agree Realty Stock Down 1.0 %
Shares of ADC traded down $0.78 during midday trading on Friday, reaching $75.48. 2,079,779 shares of the stock were exchanged, compared to its average volume of 925,833. Agree Realty Co. has a 52 week low of $54.78 and a 52 week high of $78.39. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The company's 50 day moving average is $73.32 and its two-hundred day moving average is $73.91. The company has a market capitalization of $8.10 billion, a P/E ratio of 42.40, a PEG ratio of 2.88 and a beta of 0.64.
Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share 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%. On average, sell-side 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 disclosed a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Monday, March 31st. Agree Realty's dividend payout ratio (DPR) is currently 170.22%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Mizuho cut their target price on Agree Realty from $80.00 to $74.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $74.00 to $75.00 in a research report on Tuesday, March 4th. StockNews.com raised Agree Realty from a "sell" rating to a "hold" rating in a research report on Sunday, February 16th. Stifel Nicolaus cut their price objective on Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company upped 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Agree Realty has an average rating of "Moderate Buy" and an average target price of $79.85.
Check Out Our Latest Research Report on ADC
Agree Realty Profile
(
Free Report)
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.
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