Agree Realty Co. (NYSE:ADC) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,923 shares of the real estate investment trust's stock after buying an additional 15,820 shares during the period. Hsbc Holdings PLC owned about 0.08% of Agree Realty worth $5,630,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc lifted its position in Agree Realty by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust's stock valued at $220,000 after purchasing an additional 153 shares during the period. Carmel Capital Partners LLC lifted its stake in Agree Realty by 2.5% during the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust's stock worth $486,000 after purchasing an additional 167 shares during the last quarter. UMB Bank n.a. grew its holdings in Agree Realty by 17.3% in the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust's stock worth $80,000 after buying an additional 168 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Agree Realty by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust's stock valued at $323,000 after buying an additional 169 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in Agree Realty by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust's stock worth $346,000 after buying an additional 170 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADC has been the subject of several analyst reports. Robert W. Baird lifted their price objective on shares of Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. Mizuho lifted their price objective on Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Evercore ISI raised their price objective on Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.88.

Agree Realty Trading Down 0.8 %

NYSE ADC traded down $0.63 on Friday, hitting $76.29. 1,189,897 shares of the stock were exchanged, compared to its average volume of 1,016,744. The firm has a market capitalization of $8.39 billion, a P/E ratio of 42.86, a P/E/G ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a 52-week low of $57.73 and a 52-week high of $79.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a fifty day moving average price of $75.66 and a two-hundred day moving average price of $74.12.

Agree Realty (NYSE:ADC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. The firm had revenue of $169.16 million for the quarter, compared to the consensus estimate of $167.77 million. During the same period in the prior year, the firm earned $0.43 EPS. Research analysts forecast that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The business also recently disclosed a apr 25 dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.256 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Agree Realty's previous apr 25 dividend of $0.25. This represents a dividend yield of 4.1%. Agree Realty's payout ratio is currently 173.45%.

Agree Realty Company 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.