Asset Management One Co. Ltd. Acquires 509 Shares of Agree Realty Co. (NYSE:ADC)

Asset Management One Co. Ltd. increased its holdings in shares of Agree Realty Co. (NYSE:ADC) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,602 shares of the real estate investment trust’s stock after acquiring an additional 509 shares during the period. Asset Management One Co. Ltd.’s holdings in Agree Realty were worth $14,173,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc grew its position in Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 293 shares during the last quarter. Financial Life Planners bought a new stake in Agree Realty during the 4th quarter worth approximately $44,000. MassMutual Private Wealth & Trust FSB grew its position in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 230 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Agree Realty during the 3rd quarter worth approximately $75,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Agree Realty during the 3rd quarter worth approximately $77,000. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Price Performance

Shares of NYSE ADC opened at $70.98 on Monday. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.87 and a beta of 0.65. The business has a 50-day moving average of $71.71 and a 200-day moving average of $73.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. As a group, sell-side analysts predict that Agree Realty Co. will post 4.13 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.253 per share. This represents a yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty’s payout ratio is currently 167.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Evercore ISI began coverage on Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price target on the stock. Royal Bank of Canada dropped their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday. Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Robert W. Baird lifted their price target on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Barclays dropped their price target on Agree Realty from $76.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

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.