Signaturefd LLC Has $464,000 Stock Holdings in Agree Realty Co. (NYSE:ADC)

Signaturefd LLC boosted its stake in Agree Realty Co. (NYSE:ADC) by 90.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,364 shares of the real estate investment trust’s stock after purchasing an additional 3,507 shares during the quarter. Signaturefd LLC’s holdings in Agree Realty were worth $464,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ADC. National Bank of Canada FI acquired a new stake in Agree Realty in the third quarter worth $824,000. CWM LLC grew its holdings in Agree Realty by 117.3% in 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. SG Americas Securities LLC grew its holdings in Agree Realty by 136.1% in the third quarter. SG Americas Securities LLC now owns 23,713 shares of the real estate investment trust’s stock worth $1,310,000 after purchasing an additional 13,671 shares during the period. State of Alaska Department of Revenue grew its holdings in Agree Realty by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 55,422 shares of the real estate investment trust’s stock worth $3,061,000 after purchasing an additional 1,860 shares during the period. Finally, Oak Thistle LLC acquired a new stake in Agree Realty in the third quarter worth $1,183,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ADC shares. StockNews.com cut shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Friday, March 8th. Mizuho dropped their price objective on shares of Agree Realty from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Wells Fargo & Company dropped their price objective on shares of Agree Realty from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Truist Financial dropped their price objective on shares of Agree Realty from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, BMO Capital Markets initiated coverage on shares of Agree Realty in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $69.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.61.

Agree Realty Stock Up 1.4 %

ADC opened at $58.36 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.74 and a quick ratio of 0.74. The company’s 50-day moving average is $56.60 and its 200 day moving average is $58.25. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $69.26. The firm has a market capitalization of $5.87 billion, a P/E ratio of 34.13, a PEG ratio of 2.63 and a beta of 0.52.

Agree Realty Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.25 per share. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Monday, April 29th. Agree Realty’s dividend payout ratio (DPR) is presently 173.10%.

Insider Activity at Agree Realty

In related news, Chairman Richard Agree acquired 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $55.50 per share, for a total transaction of $888,000.00. Following the completion of the acquisition, the chairman now owns 135,855 shares of the company’s stock, valued at approximately $7,539,952.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Richard Agree acquired 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $55.50 per share, for a total transaction of $888,000.00. Following the completion of the acquisition, the chairman now owns 135,855 shares of the company’s stock, valued at approximately $7,539,952.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Rakolta, Jr. acquired 20,430 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average price of $57.00 per share, with a total value of $1,164,510.00. Following the acquisition, the director now directly owns 392,549 shares of the company’s stock, valued at approximately $22,375,293. The disclosure for this purchase can be found here. Insiders have bought 42,482 shares of company stock valued at $2,397,572 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.