AE Wealth Management LLC Takes $358,000 Position in Agree Realty Corporation (NYSE:ADC)

AE Wealth Management LLC purchased a new stake in Agree Realty Corporation (NYSE:ADC) in the 1st quarter, HoldingsChannel reports. The fund purchased 4,638 shares of the real estate investment trust’s stock, valued at approximately $358,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ADC. Cullen Frost Bankers Inc. acquired a new stake in shares of Agree Realty in the first quarter valued at about $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Agree Realty in the fourth quarter valued at about $31,000. Capital Advisors Ltd. LLC increased its stake in shares of Agree Realty by 137.8% in the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 270 shares during the period. Headlands Technologies LLC increased its stake in shares of Agree Realty by 72.8% in the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 235 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of Agree Realty in the first quarter valued at about $39,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ADC shares. BTIG Research cut Agree Realty from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 7th. JMP Securities restated a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. Mizuho cut their target price on Agree Realty from $81.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, June 16th. UBS Group set a $80.00 target price on Agree Realty and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Robert W. Baird upped their target price on Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and an average target price of $80.32.

Agree Realty Stock Down 0.8%

Shares of NYSE:ADC opened at $72.96 on Thursday. The business’s 50 day simple moving average is $73.64 and its two-hundred day simple moving average is $74.13. The firm has a market cap of $8.03 billion, a P/E ratio of 41.22, a PEG ratio of 2.38 and a beta of 0.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.72 and a current ratio of 0.72. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65.

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.256 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $3.07 annualized dividend and a yield of 4.21%. Agree Realty’s payout ratio is currently 173.45%.

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.