Agree Realty Corporation (NYSE:ADC) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,583 shares of the real estate investment trust's stock after selling 3,959 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.05% of Agree Realty worth $4,513,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Agree Realty during the fourth quarter worth approximately $31,000. Capital Advisors Ltd. LLC lifted its stake in Agree Realty by 137.8% during the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Headlands Technologies LLC lifted its stake in Agree Realty by 72.8% during the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 235 shares during the last quarter. NBC Securities Inc. purchased a new stake in Agree Realty during the first quarter worth approximately $39,000. Finally, Quarry LP purchased a new stake in Agree Realty during the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ADC. Evercore ISI boosted their target price on Agree Realty from $82.00 to $83.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Barclays set a $77.00 target price on Agree Realty and gave the stock an "equal weight" rating in a research note on Wednesday, May 21st. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a research note on Sunday. BTIG Research cut Agree Realty from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group reduced their price objective on Agree Realty from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $80.54.

Agree Realty Stock Performance

Shares of NYSE:ADC traded up $0.62 during trading on Friday, reaching $71.60. The company had a trading volume of 2,127,586 shares, compared to its average volume of 1,103,240. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 2.32 and a beta of 0.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.72 and a quick ratio of 0.72. The stock's fifty day moving average price is $74.20 and its 200 day moving average price is $73.92. Agree Realty Corporation has a fifty-two week low of $64.10 and a fifty-two week high of $79.65.

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 analysts' consensus estimates of $1.05 by $0.01. The business had revenue of $169.16 million for the quarter, compared to analyst estimates of $167.77 million. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, equities research analysts predict that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a dividend of $0.256 per share. This represents a $3.07 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Thursday, July 31st. Agree Realty's dividend payout ratio is presently 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.