Atria Investments Inc cut its stake in shares of Agree Realty Co. (NYSE:ADC – Free Report) by 6.2% in the fourth quarter, HoldingsChannel reports. The fund owned 12,128 shares of the real estate investment trust’s stock after selling 800 shares during the period. Atria Investments Inc’s holdings in Agree Realty were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 293 shares during the period. Financial Life Planners bought a new position in Agree Realty during the fourth quarter valued at approximately $44,000. MassMutual Private Wealth & Trust FSB boosted its stake in Agree Realty by 34.4% during 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 buying an additional 230 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Agree Realty during the third quarter valued at approximately $77,000. Finally, UMB Bank n.a. boosted its position 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 valued at $80,000 after acquiring an additional 168 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have commented on ADC. Evercore ISI assumed coverage on shares of Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty in a report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 target price for the company. Royal Bank of Canada dropped their target price on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, StockNews.com upgraded 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.85.
Check Out Our Latest Analysis on ADC
Agree Realty Stock Performance
Shares of ADC stock opened at $75.73 on Friday. The business’s fifty day simple moving average is $72.51 and its 200-day simple moving average is $73.76. Agree Realty Co. has a 12-month low of $54.78 and a 12-month high of $78.39. The company has a market cap of $8.12 billion, a PE ratio of 42.54, a PEG ratio of 2.88 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52.
Agree Realty (NYSE:ADC – Get Free Report) last issued its quarterly earnings results 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 30.66% and a return on equity of 3.70%. Analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.
Agree Realty Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.01%. Agree Realty’s payout ratio is currently 170.22%.
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.
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