Agree Realty Corporation (NYSE:ADC) Stock Holdings Decreased by Blue Trust Inc.

Blue Trust Inc. reduced its position in Agree Realty Corporation (NYSE:ADC - Free Report) by 75.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,226 shares of the real estate investment trust's stock after selling 3,687 shares during the period. Blue Trust Inc.'s holdings in Agree Realty were worth $95,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its stake 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 acquiring an additional 153 shares during the last quarter. Carmel Capital Partners LLC raised its stake in Agree Realty by 2.5% during the 4th quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust's stock valued at $486,000 after purchasing an additional 167 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Agree Realty by 3.8% in the 4th 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 during the period. Private Advisor Group LLC increased its holdings in Agree Realty by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust's stock valued at $346,000 after buying an additional 170 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its holdings in shares of Agree Realty by 2.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,884 shares of the real estate investment trust's stock worth $531,000 after purchasing an additional 187 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Price Performance

Agree Realty stock opened at $73.22 on Thursday. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 2.34 and a beta of 0.56. Agree Realty Corporation has a 52-week low of $60.42 and a 52-week high of $79.65. The stock's 50 day moving average price is $75.43 and its two-hundred day moving average price is $73.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.72 and a current ratio of 0.72.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. The company had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. During the same period last year, the business earned $0.43 EPS. On average, equities analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently announced a jun 25 dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.256 per share. This represents a dividend yield of 4.1%. The ex-dividend date is Monday, June 30th. Agree Realty's dividend payout ratio is presently 173.45%.

Analysts Set New Price Targets

ADC has been the topic of several analyst reports. Stifel Nicolaus upped their target price on shares of Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a research note on Friday, May 16th. Barclays set a $77.00 target price on shares of Agree Realty and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. Robert W. Baird upped their price objective on shares of Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, UBS Group cut their price objective on shares of Agree Realty from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $80.96.

About Agree Realty

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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