Agree Realty Co. (NYSE:ADC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its position in shares of Agree Realty Co. (NYSE:ADC) by 27.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,337 shares of the real estate investment trust’s stock after selling 8,000 shares during the period. Handelsbanken Fonder AB’s holdings in Agree Realty were worth $1,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC boosted its stake in Agree Realty by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 170 shares during the period. Venturi Wealth Management LLC purchased a new position in Agree Realty during the fourth quarter worth about $157,000. Truist Financial Corp boosted its stake in Agree Realty by 0.8% during the fourth quarter. Truist Financial Corp now owns 51,464 shares of the real estate investment trust’s stock worth $3,626,000 after buying an additional 387 shares during the period. CIBC Asset Management Inc boosted its stake in Agree Realty by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 153 shares during the period. Finally, Principal Securities Inc. boosted its stake in Agree Realty by 26.2% during the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 237 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on ADC shares. Stifel Nicolaus lowered their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Truist Financial raised their price objective on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI began coverage on shares of Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

Agree Realty Stock Down 1.5 %

NYSE ADC opened at $72.69 on Thursday. The stock has a market cap of $7.80 billion, a PE ratio of 40.84, a P/E/G ratio of 2.88 and a beta of 0.65. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The business has a 50 day moving average price of $71.42 and a two-hundred day moving average price of $73.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. As a group, sell-side analysts predict that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.253 per share. This represents a dividend yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty’s dividend payout ratio (DPR) is currently 170.22%.

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.