Cambridge Investment Research Advisors Inc. Has $1.13 Million Stock Holdings in Agree Realty Corporation (NYSE:ADC)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,644 shares of the real estate investment trust's stock after selling 4,524 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Agree Realty were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Agree Realty by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock worth $1,025,044,000 after purchasing an additional 219,806 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of Agree Realty by 43.0% in the 4th quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock valued at $688,108,000 after buying an additional 2,937,147 shares in the last quarter. Invesco Ltd. increased its holdings in Agree Realty by 85.6% in the fourth quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock worth $155,895,000 after buying an additional 1,020,512 shares during the last quarter. Geode Capital Management LLC raised its position in Agree Realty by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust's stock valued at $150,255,000 after acquiring an additional 57,492 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Agree Realty by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust's stock valued at $115,936,000 after acquiring an additional 57,297 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Agree Realty Stock Up 2.5%

ADC opened at $73.90 on Friday. The business has a 50 day moving average of $74.75 and a 200-day moving average of $73.86. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 41.75, a P/E/G ratio of 2.29 and a beta of 0.54. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.54. Agree Realty Corporation has a 1-year low of $61.34 and a 1-year high of $79.65.

Agree Realty (NYSE:ADC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The firm had revenue of $169.16 million during the quarter, compared to the consensus estimate of $167.77 million. Agree Realty had a net margin of 30.05% and a return on equity of 3.66%. During the same period in the prior year, the firm earned $0.43 EPS. As a group, sell-side analysts anticipate that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADC. JMP Securities restated a "market perform" rating on shares of Agree Realty in a research note on Monday, June 30th. BTIG Research downgraded shares of Agree Realty from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 7th. Robert W. Baird raised their target price on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Mizuho decreased their price target on Agree Realty from $81.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Finally, Wells Fargo & Company increased their price objective on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Agree Realty currently has an average rating of "Moderate Buy" and an average price target of $80.96.

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.

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