SG Americas Securities LLC Sells 15,578 Shares of Agree Realty Corporation (NYSE:ADC)

SG Americas Securities LLC lowered its position in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 54.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,907 shares of the real estate investment trust's stock after selling 15,578 shares during the quarter. SG Americas Securities LLC's holdings in Agree Realty were worth $996,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in Agree Realty during the 4th quarter valued at $31,000. NBC Securities Inc. purchased a new position in shares of Agree Realty during the first quarter valued at $39,000. Headlands Technologies LLC raised its position 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 valued at $39,000 after buying an additional 235 shares during the period. Quarry LP purchased a new stake in Agree Realty in the 4th quarter worth about $52,000. Finally, Principal Securities Inc. boosted its position in Agree Realty by 26.2% during the 4th quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust's stock worth $80,000 after acquiring an additional 237 shares during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.

Agree Realty Price Performance

NYSE:ADC traded up $0.68 on Wednesday, reaching $75.33. The stock had a trading volume of 1,176,573 shares, compared to its average volume of 1,071,598. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $8.29 billion, a P/E ratio of 42.56, a price-to-earnings-growth ratio of 2.31 and a beta of 0.56. Agree Realty Corporation has a 1-year low of $60.42 and a 1-year high of $79.65. The stock has a fifty day moving average price of $75.49 and a 200-day moving average price of $73.91.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. The business had revenue of $169.16 million for the quarter, compared to analyst estimates of $167.77 million. During the same period in the prior year, the company earned $0.43 EPS. Research analysts forecast that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The business also recently announced a jun 25 dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid 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%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADC. Barclays set a $77.00 price objective on shares of Agree Realty and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. BTIG Research downgraded shares of Agree Realty from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 7th. Evercore ISI upped their price objective on shares of Agree Realty from $82.00 to $83.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Mizuho lowered their target price on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Stifel Nicolaus raised 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. Six investment 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.96.

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.