Handelsbanken Fonder AB Has $2.13 Million Stock Position in Agree Realty Co. (NYSE:ADC)

Handelsbanken Fonder AB increased its position in shares of Agree Realty Co. (NYSE:ADC - Free Report) by 29.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,537 shares of the real estate investment trust's stock after purchasing an additional 6,200 shares during the quarter. Handelsbanken Fonder AB's holdings in Agree Realty were worth $2,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 valued at $1,025,044,000 after purchasing an additional 219,806 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Agree Realty by 43.0% during the fourth quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock worth $688,108,000 after buying an additional 2,937,147 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Agree Realty by 85.6% during 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Agree Realty by 2.8% in the 4th 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Agree Realty by 3.6% during the 4th 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 in the last quarter. Institutional investors own 97.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Robert W. Baird lifted their price target on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Evercore ISI raised their price target on shares of Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Stifel Nicolaus boosted their price objective on shares of Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Truist Financial raised their target price on Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company increased their price target on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $81.19.

Agree Realty Price Performance

ADC stock opened at $74.44 on Friday. The business has a 50-day simple moving average of $75.40 and a two-hundred day simple moving average of $73.95. The company has a market capitalization of $8.19 billion, a P/E ratio of 41.82, a price-to-earnings-growth ratio of 2.88 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. Agree Realty Co. has a 52-week low of $60.42 and a 52-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 for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. The firm had revenue of $169.16 million during 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 expect that Agree Realty Co. will post 4.27 EPS for the current fiscal 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 paid a $0.256 dividend. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 4.1%. Agree Realty's payout ratio is 173.45%.

Agree Realty 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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