Sage Investment Counsel LLC purchased a new stake in Agree Realty Co. (NYSE:ADC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,667 shares of the real estate investment trust's stock, valued at approximately $329,000.
Several other hedge funds have also recently bought and sold shares of the stock. Private Advisor Group LLC lifted its holdings in shares of Agree Realty by 11.4% during the third quarter. Private Advisor Group LLC now owns 4,739 shares of the real estate investment trust's stock worth $357,000 after buying an additional 485 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Agree Realty by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,906 shares of the real estate investment trust's stock worth $292,000 after acquiring an additional 1,008 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Agree Realty by 5.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,635 shares of the real estate investment trust's stock valued at $726,000 after acquiring an additional 531 shares in the last quarter. abrdn plc grew its holdings in shares of Agree Realty by 10.8% during the 3rd quarter. abrdn plc now owns 20,573 shares of the real estate investment trust's stock worth $1,550,000 after purchasing an additional 2,000 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Agree Realty by 1.5% in the third quarter. US Bancorp DE now owns 17,130 shares of the real estate investment trust's stock worth $1,290,000 after purchasing an additional 252 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They issued a "buy" rating and a $88.00 price objective on the stock. JMP Securities downgraded shares of Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Royal Bank of Canada decreased their target price on shares of Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Barclays upgraded Agree Realty from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $74.00 to $75.00 in a research note on Tuesday. Finally, StockNews.com raised Agree Realty from a "sell" rating to a "hold" rating in a report on Sunday, February 16th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.69.
Get Our Latest Report on Agree Realty
Agree Realty Stock Up 1.9 %
NYSE ADC traded up $1.39 on Wednesday, hitting $75.58. 1,263,389 shares of the company were exchanged, compared to its average volume of 938,226. 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 has a market cap of $8.11 billion, a PE ratio of 42.46, a PEG ratio of 2.88 and a beta of 0.65. The stock has a fifty day moving average of $71.85 and a 200-day moving average of $73.63. Agree Realty Co. has a 12 month low of $54.78 and a 12 month high of $78.39.
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, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. As a group, analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current year.
Agree Realty Announces Dividend
The company also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.253 dividend. This represents a dividend yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty's dividend payout ratio is currently 170.22%.
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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