Victory Capital Management Inc. boosted its holdings in Agree Realty Co. (NYSE:ADC - Free Report) by 143.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,453 shares of the real estate investment trust's stock after acquiring an additional 29,747 shares during the period. Victory Capital Management Inc.'s holdings in Agree Realty were worth $3,554,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in ADC. Atria Investments Inc boosted its holdings in shares of Agree Realty by 9.7% during the third quarter. Atria Investments Inc now owns 12,928 shares of the real estate investment trust's stock worth $974,000 after acquiring an additional 1,142 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Agree Realty by 3.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,353 shares of the real estate investment trust's stock valued at $1,157,000 after purchasing an additional 484 shares during the period. KBC Group NV grew its holdings in Agree Realty by 15.0% in the 3rd quarter. KBC Group NV now owns 2,460 shares of the real estate investment trust's stock valued at $185,000 after buying an additional 320 shares in the last quarter. Metis Global Partners LLC increased its position in Agree Realty by 29.7% during the 3rd quarter. Metis Global Partners LLC now owns 10,336 shares of the real estate investment trust's stock worth $779,000 after buying an additional 2,366 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of Agree Realty during the third quarter worth $224,000. Institutional investors and hedge funds own 97.83% of the company's stock.
Agree Realty Price Performance
Agree Realty stock traded up $0.28 during mid-day trading on Thursday, reaching $76.29. The company had a trading volume of 612,771 shares, compared to its average volume of 917,072. 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 $8.18 billion, a P/E ratio of 42.99, a P/E/G ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a fifty-two week low of $54.78 and a fifty-two week high of $78.39. The business has a fifty day simple moving average of $73.05 and a 200 day simple moving average of $73.87.
Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (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%. On average, equities research analysts predict 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. 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 yield of 3.98%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty's dividend payout ratio is presently 170.22%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ADC. Citizens Jmp downgraded shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Mizuho decreased their target price on shares of Agree Realty from $80.00 to $74.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Agree Realty from a "sell" rating to a "hold" rating in a research report on Sunday, February 16th. BTIG Research raised their price objective on Agree Realty from $74.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, JMP Securities cut Agree Realty from an "outperform" rating to a "market perform" rating in a report on Tuesday, December 17th. Five equities research 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. According to MarketBeat.com, Agree Realty has an average rating of "Moderate Buy" and an average price target of $79.85.
Read Our Latest Stock Analysis on Agree Realty
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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