Farther Finance Advisors LLC Has $85,000 Stake in Agree Realty Co. (NYSE:ADC)

Farther Finance Advisors LLC lifted its position in shares of Agree Realty Co. (NYSE:ADC) by 857.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,206 shares of the real estate investment trust’s stock after acquiring an additional 1,080 shares during the quarter. Farther Finance Advisors LLC’s holdings in Agree Realty were worth $85,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after buying an additional 990,362 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Agree Realty by 29.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after buying an additional 534,545 shares during the period. FMR LLC lifted its holdings in Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after buying an additional 1,968,811 shares during the period. Geode Capital Management LLC lifted its holdings in Agree Realty by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock worth $156,327,000 after buying an additional 30,377 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Agree Realty by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust’s stock worth $115,936,000 after buying an additional 57,297 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Mizuho lowered their price objective on Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research lifted their price objective on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus lowered their price objective on Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $79.85.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $75.48 on Friday. Agree Realty Co. has a one year low of $54.78 and a one year high of $78.39. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 2.88 and a beta of 0.64. The business has a 50-day simple moving average of $73.32 and a 200 day simple moving average of $73.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. On average, research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.253 per share. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a yield of 4.02%. Agree Realty’s dividend payout ratio (DPR) is currently 170.22%.

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.