741 Shares in Agree Realty Co. (NYSE:ADC) Bought by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Agree Realty Co. (NYSE:ADC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 741 shares of the real estate investment trust’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. HBC Financial Services PLLC acquired a new stake in shares of Agree Realty in the fourth quarter valued at about $31,000. Lindbrook Capital LLC lifted its position in shares of Agree Realty by 267.1% during the 4th quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 430 shares during the period. CWM LLC lifted its position in shares of Agree Realty by 117.3% during the 3rd quarter. CWM LLC now owns 728 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 393 shares during the period. Jamison Private Wealth Management Inc. boosted its stake in shares of Agree Realty by 96.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 364 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Agree Realty by 42.0% in the 4th quarter. Blue Trust Inc. now owns 1,255 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ADC shares. Stifel Nicolaus reduced their price objective on Agree Realty from $70.00 to $69.50 and set a “buy” rating for the company in a report on Wednesday, February 14th. StockNews.com lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company dropped their target price on shares of Agree Realty from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Mizuho lowered their price target on shares of Agree Realty from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, Truist Financial cut their price objective on Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and an average price target of $65.61.

Agree Realty Trading Up 1.4 %

Shares of Agree Realty stock opened at $58.79 on Friday. The firm has a market cap of $5.92 billion, a PE ratio of 34.58, a P/E/G ratio of 2.64 and a beta of 0.52. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.50. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $69.26. The business’s fifty day moving average is $56.72 and its two-hundred day moving average is $58.37.

Agree Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.10%. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date is Monday, April 29th. Agree Realty’s dividend payout ratio (DPR) is presently 176.47%.

Insider Buying and Selling at Agree Realty

In related news, Chairman Richard Agree bought 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of $55.50 per share, with a total value of $888,000.00. Following the completion of the transaction, the chairman now owns 135,855 shares of the company’s stock, valued at $7,539,952.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Richard Agree bought 16,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of $55.50 per share, with a total value of $888,000.00. Following the transaction, the chairman now owns 135,855 shares of the company’s stock, valued at approximately $7,539,952.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joey Agree purchased 3,500 shares of the stock in a transaction on Wednesday, February 21st. The shares were purchased at an average cost of $56.92 per share, with a total value of $199,220.00. Following the transaction, the chief executive officer now owns 561,403 shares of the company’s stock, valued at approximately $31,955,058.76. The disclosure for this purchase can be found here. Insiders acquired 42,482 shares of company stock worth $2,397,572 in the last 90 days. 1.80% of the stock is owned by company insiders.

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.