Portfolio Design Labs LLC Invests $293,000 in Agree Realty Co. (NYSE:ADC)

Portfolio Design Labs LLC bought a new stake in shares of Agree Realty Co. (NYSE:ADC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,162 shares of the real estate investment trust's stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its position in shares of Agree Realty by 8.5% during the third quarter. CWM LLC now owns 3,458 shares of the real estate investment trust's stock worth $260,000 after purchasing an additional 271 shares in the last quarter. Creative Planning boosted its holdings in Agree Realty by 7.8% in the third quarter. Creative Planning now owns 61,267 shares of the real estate investment trust's stock worth $4,615,000 after acquiring an additional 4,448 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Agree Realty in the third quarter worth about $359,000. Presima Securities ULC raised its position in shares of Agree Realty by 1.1% in the 3rd quarter. Presima Securities ULC now owns 35,468 shares of the real estate investment trust's stock valued at $2,672,000 after purchasing an additional 400 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new position in shares of Agree Realty in the 3rd quarter valued at approximately $232,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Trading Down 1.2 %

Shares of ADC traded down $0.85 during midday trading on Friday, reaching $70.98. The company had a trading volume of 738,394 shares, compared to its average volume of 717,054. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $78.39. The stock has a market cap of $7.35 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 2.87 and a beta of 0.65. The firm has a 50 day simple moving average of $71.71 and a 200-day simple moving average of $73.52. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. Research analysts forecast that Agree Realty Co. will post 4.13 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.253 per share. The ex-dividend date is Friday, February 28th. This represents a yield of 4.2%. Agree Realty's dividend payout ratio (DPR) is 167.96%.

Analyst Ratings Changes

A number of research analysts have issued reports on ADC shares. Evercore ISI began coverage on shares of Agree Realty in a research note on Thursday, December 12th. They set an "outperform" rating and a $82.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Truist Financial increased their price target on shares of Agree Realty from $77.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Barclays dropped their price objective on shares of Agree Realty from $76.00 to $74.00 and set an "underweight" rating on the stock in a report on Tuesday, February 4th. Finally, Citizens Jmp downgraded shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.62.

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.