24,925 Shares in Agree Realty Co. (NYSE:ADC) Bought by Nomura Holdings Inc.

Nomura Holdings Inc. acquired a new position in Agree Realty Co. (NYSE:ADC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,925 shares of the real estate investment trust's stock, valued at approximately $1,756,000.

Several other large investors have also recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new stake in Agree Realty in the fourth quarter valued at approximately $31,000. Headlands Technologies LLC raised its holdings in shares of Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 235 shares during the period. Financial Life Planners acquired a new position in Agree Realty during the 4th quarter worth about $44,000. Quarry LP purchased a new position in Agree Realty during the 4th quarter valued at about $52,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 230 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Down 1.1%

Shares of NYSE:ADC traded down $0.82 on Wednesday, hitting $75.00. 1,274,068 shares of the company's stock were exchanged, compared to its average volume of 1,047,118. Agree Realty Co. has a 1-year low of $58.52 and a 1-year high of $79.65. The company has a market capitalization of $8.25 billion, a PE ratio of 42.13, a P/E/G ratio of 2.88 and a beta of 0.57. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. The firm's 50-day moving average is $75.67 and its 200 day moving average is $74.11.

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 earnings per share (EPS) 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 return on equity of 3.70% and a net margin of 30.66%. During the same period in the prior year, the company posted $0.43 earnings per share. Sell-side analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.256 dividend. This is a boost from Agree Realty's previous monthly dividend of $0.25. The ex-dividend date of this dividend is Friday, May 30th. This represents a $3.07 annualized dividend and a dividend yield of 4.10%. Agree Realty's dividend payout ratio is presently 173.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on ADC. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a research report on Friday, May 16th. BTIG Research downgraded shares of Agree Realty from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 7th. Robert W. Baird increased their target price on shares of Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Wells Fargo & Company boosted their price target on shares of Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Finally, Royal Bank of Canada cut their price objective on Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $81.19.

About Agree Realty

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.