Principal Securities Inc. Purchases 237 Shares of Agree Realty Co. (NYSE:ADC)

Principal Securities Inc. lifted its position in Agree Realty Co. (NYSE:ADC) by 26.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,142 shares of the real estate investment trust’s stock after acquiring an additional 237 shares during the quarter. Principal Securities Inc.’s holdings in Agree Realty were worth $80,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in Agree Realty by 2.7% during the fourth quarter. Rhumbline Advisers now owns 318,379 shares of the real estate investment trust’s stock valued at $22,430,000 after purchasing an additional 8,276 shares during the last quarter. Blue Trust Inc. grew its position in Agree Realty by 57.3% during the fourth quarter. Blue Trust Inc. now owns 4,913 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 1,790 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Agree Realty by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 201,602 shares of the real estate investment trust’s stock valued at $14,173,000 after acquiring an additional 509 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Agree Realty by 2.8% during the fourth quarter. Pathway Financial Advisers LLC now owns 16,747 shares of the real estate investment trust’s stock valued at $1,180,000 after acquiring an additional 449 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Agree Realty by 3.5% during the fourth quarter. Van ECK Associates Corp now owns 43,552 shares of the real estate investment trust’s stock valued at $3,068,000 after purchasing an additional 1,493 shares during the period. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADC. Truist Financial raised their price objective on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reduced their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. BTIG Research boosted their price target on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Mizuho lowered their price objective on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Agree Realty in a research report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.62.

Agree Realty Price Performance

NYSE:ADC opened at $72.69 on Thursday. Agree Realty Co. has a 52 week low of $54.28 and a 52 week high of $78.39. 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 company has a market capitalization of $7.80 billion, a P/E ratio of 40.84, a P/E/G ratio of 2.88 and a beta of 0.65. The stock’s fifty day moving average is $71.42 and its two-hundred day moving average is $73.54.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping 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%. Equities analysts expect that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The business also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 4.2%. Agree Realty’s payout ratio is 170.22%.

Agree Realty 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.