Agree Realty Co. (NYSE:ADC) Shares Bought by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lifted its position in Agree Realty Co. (NYSE:ADC - Free Report) by 126.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,934 shares of the real estate investment trust's stock after purchasing an additional 20,619 shares during the quarter. Motley Fool Wealth Management LLC's holdings in Agree Realty were worth $2,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADC. HBC Financial Services PLLC purchased a new stake in Agree Realty during the fourth quarter valued at about $31,000. Lindbrook Capital LLC boosted its holdings in shares of Agree Realty by 267.1% during the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 430 shares during the period. CWM LLC boosted its holdings in shares of Agree Realty by 117.3% during the third quarter. CWM LLC now owns 728 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 393 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Agree Realty during the fourth quarter worth about $44,000. Finally, Jamison Private Wealth Management Inc. raised its stake in Agree Realty by 96.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust's stock worth $47,000 after buying an additional 364 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Agree Realty

In related news, CEO Joey Agree purchased 2,000 shares of Agree Realty stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the acquisition, the chief executive officer now owns 557,903 shares in the company, valued at approximately $32,112,896.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Agree Realty news, CEO Joey Agree bought 2,000 shares of Agree Realty stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the acquisition, the chief executive officer now directly owns 557,903 shares in the company, valued at approximately $32,112,896.68. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Rakolta, Jr. purchased 20,430 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of $57.00 per share, with a total value of $1,164,510.00. Following the completion of the purchase, the director now owns 392,549 shares in the company, valued at approximately $22,375,293. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 42,482 shares of company stock worth $2,397,572. 1.80% of the stock is owned by corporate insiders.

Agree Realty Stock Performance

Shares of Agree Realty stock traded down $0.28 on Friday, hitting $57.77. 781,009 shares of the company's stock were exchanged, compared to its average volume of 947,146. The company has a 50-day simple moving average of $56.63 and a 200-day simple moving average of $58.29. The stock has a market capitalization of $5.81 billion, a PE ratio of 33.98, a PEG ratio of 2.66 and a beta of 0.52. Agree Realty Co. has a 1 year low of $52.69 and a 1 year high of $69.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.74 and a current ratio of 0.71.

Agree Realty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.25 per share. This is a boost from Agree Realty's previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.19%. Agree Realty's payout ratio is 174.12%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Agree Realty in a research note on Tuesday, February 13th. They set an "outperform" rating and a $69.00 target price for the company. Stifel Nicolaus decreased their target price on shares of Agree Realty from $70.00 to $69.50 and set a "buy" rating for the company in a research note on Wednesday, February 14th. StockNews.com raised shares of Agree Realty from a "sell" rating to a "hold" rating in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of Agree Realty from $66.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada reduced their price target on shares of Agree Realty from $67.00 to $63.00 and set an "outperform" rating for the company in a research report on Thursday, February 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $65.61.

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.