DekaBank Deutsche Girozentrale lowered its stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 6.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 59,583 shares of the real estate investment trust's stock after selling 3,959 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.05% of Agree Realty worth $4,513,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of Agree Realty during the 4th quarter valued at $31,000. Capital Advisors Ltd. LLC increased its position 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 valued at $36,000 after acquiring an additional 270 shares during the last quarter. Headlands Technologies LLC lifted its holdings in Agree Realty by 72.8% in the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 235 shares during the period. NBC Securities Inc. purchased a new position in Agree Realty in the first quarter worth about $39,000. Finally, Quarry LP purchased a new position in Agree Realty in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 97.83% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on ADC shares. Mizuho reduced their price objective 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. Robert W. Baird lifted their price objective on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Truist Financial increased their target price on shares of Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Stifel Nicolaus upped their price target on shares of Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.25.
Get Our Latest Research Report on ADC
Agree Realty Price Performance
Shares of ADC traded up $0.58 during midday trading on Wednesday, hitting $72.20. 1,296,700 shares of the company traded hands, compared to its average volume of 1,214,965. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.35 and a beta of 0.54. The firm has a 50 day moving average of $74.02 and a 200-day moving average of $73.94. 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 Corporation has a 52 week low of $65.60 and a 52 week high of $79.65.
Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. The company had revenue of $169.16 million during 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 period in the prior year, the company earned $0.43 earnings per share. On average, analysts forecast that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.
Agree Realty Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a $0.256 dividend. This represents a $3.07 annualized dividend and a yield of 4.25%. The ex-dividend date is Thursday, July 31st. Agree Realty's dividend payout ratio is presently 173.45%.
Agree Realty Profile
(
Free Report)
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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