UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Holdings in Agree Realty Co. (NYSE:ADC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Agree Realty Co. (NYSE:ADC - Free Report) by 524.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 707,421 shares of the real estate investment trust's stock after buying an additional 594,080 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.68% of Agree Realty worth $49,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ADC. Bernard Wealth Management Corp. purchased a new position in shares of Agree Realty during the fourth quarter worth approximately $31,000. Headlands Technologies LLC grew its holdings in shares of Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 235 shares during the last quarter. Financial Life Planners purchased a new position in Agree Realty in the 4th quarter worth $44,000. Quarry LP purchased a new position in Agree Realty in the 4th quarter worth $52,000. Finally, Principal Securities Inc. lifted its stake in Agree Realty by 26.2% in the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

Analyst Upgrades and Downgrades

ADC has been the topic of a number of recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Agree Realty in a research note on Friday, May 16th. Truist Financial raised their price target on Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their price target on Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. BTIG Research lowered Agree Realty from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird increased their price objective on Agree Realty from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.19.

Agree Realty Trading Down 1.2%

Shares of ADC traded down $0.88 during mid-day trading on Thursday, hitting $74.44. 1,242,030 shares of the company's stock traded hands, compared to its average volume of 1,055,601. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $8.19 billion, a P/E ratio of 41.77, a PEG ratio of 2.88 and a beta of 0.57. The business's 50-day moving average price is $75.54 and its 200-day moving average price is $74.14. Agree Realty Co. has a 1 year low of $58.52 and a 1 year high of $79.65.

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 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.01. The business had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, sell-side analysts forecast that Agree Realty Co. will post 4.27 EPS for the current fiscal 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 paid a dividend of $0.256 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 4.13%. Agree Realty's payout ratio is presently 173.45%.

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.