New York Life Investment Management LLC Has $744,000 Stock Holdings in Agree Realty Co. (NYSE:ADC)
New York Life Investment Management LLC lessened its holdings in shares of Agree Realty Co. (NYSE:ADC – Free Report) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,559 shares of the real estate investment trust’s stock after selling 886 shares during the period. New York Life Investment Management LLC’s holdings in Agree Realty were worth $744,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ADC. FMR LLC lifted its position in shares of Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after purchasing an additional 1,968,811 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after acquiring an additional 990,362 shares during the period. Daiwa Securities Group Inc. increased its stake in Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after acquiring an additional 534,545 shares during the period. Two Sigma Advisers LP increased its stake in Agree Realty by 92.6% during the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock valued at $53,815,000 after acquiring an additional 343,400 shares during the period. Finally, Waterfront Capital Partners LLC bought a new position in Agree Realty during the third quarter valued at about $21,326,000. Institutional investors and hedge funds own 97.83% of the company’s stock.
Agree Realty Stock Up 0.3 %
NYSE ADC opened at $74.34 on Wednesday. The firm has a market cap of $7.97 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.65. Agree Realty Co. has a one year low of $54.78 and a one year high of $78.39. The stock’s 50 day simple moving average is $71.76 and its 200 day simple moving average is $73.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.
Agree Realty (NYSE:ADC – Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.
Agree Realty Dividend Announcement
The business also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid 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 (DPR) is currently 170.22%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on ADC shares. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. BTIG Research boosted their price target on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Stifel Nicolaus lowered their price objective on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, Evercore ISI initiated coverage on Agree Realty in a research note on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective on the stock. 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 stock. According to data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus price target of $79.69.
View Our Latest Analysis on Agree Realty
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.
Further Reading
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