KBC Group NV Lowers Position in Agree Realty Corporation (NYSE:ADC)

KBC Group NV reduced its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 90.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,332 shares of the real estate investment trust's stock after selling 39,229 shares during the period. KBC Group NV's holdings in Agree Realty were worth $334,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in Agree Realty by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust's stock worth $365,000 after purchasing an additional 139 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in Agree Realty by 2.8% during 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. Arizona State Retirement System grew its position in Agree Realty by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,204 shares of the real estate investment trust's stock worth $2,057,000 after purchasing an additional 229 shares during the last quarter. Headlands Technologies LLC grew its position in Agree Realty by 72.8% during the 4th 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. Finally, Transcend Capital Advisors LLC grew its position in Agree Realty by 1.0% during the 1st quarter. Transcend Capital Advisors LLC now owns 24,934 shares of the real estate investment trust's stock worth $1,925,000 after purchasing an additional 237 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Price Performance

ADC traded down $0.65 during midday trading on Tuesday, reaching $71.31. 233,901 shares of the company's stock were exchanged, compared to its average volume of 1,093,369. 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 has a market capitalization of $7.85 billion, a PE ratio of 40.29, a P/E/G ratio of 2.29 and a beta of 0.54. The business's 50-day moving average price is $74.66 and its 200 day moving average price is $73.93. 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 announced 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. The company had revenue of $169.16 million during the quarter, compared to analysts' expectations of $167.77 million. Agree Realty had a net margin of 30.05% and a return on equity of 3.66%. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, equities analysts anticipate that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADC. UBS Group lowered their target price on shares of Agree Realty from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company lifted their target price on shares of Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Robert W. Baird lifted their target price on shares of Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Barclays set a $77.00 target price on shares of Agree Realty and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Agree Realty in a report on Monday, June 30th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.96.

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.