Amundi Boosts Stock Holdings in Agree Realty Co. (NYSE:ADC)

Amundi raised its stake in Agree Realty Co. (NYSE:ADC) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 57,458 shares of the real estate investment trust’s stock after purchasing an additional 2,482 shares during the quarter. Amundi’s holdings in Agree Realty were worth $4,004,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ADC. Versant Capital Management Inc raised its holdings in shares of 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 in the last quarter. Financial Life Planners purchased a new stake in Agree Realty during the fourth quarter valued at $44,000. MassMutual Private Wealth & Trust FSB lifted its position in Agree Realty by 34.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 230 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Agree Realty in the 3rd quarter worth $77,000. Finally, UMB Bank n.a. increased its holdings in shares of Agree Realty by 17.3% in the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

ADC has been the subject of a number of analyst reports. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $79.00 to $84.00 in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. Finally, Stifel Nicolaus cut their price objective on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.85.

Agree Realty Stock Up 1.7 %

Shares of NYSE ADC opened at $76.86 on Monday. Agree Realty Co. has a 52-week low of $54.78 and a 52-week high of $78.39. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 43.18, a PEG ratio of 2.88 and a beta of 0.64. The stock has a 50 day moving average price of $72.65 and a 200 day moving average price of $73.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78.

Agree Realty (NYSE:ADC) last issued its 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%. Sell-side analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.253 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.04 annualized dividend and a dividend yield of 3.95%. Agree Realty’s dividend payout ratio is currently 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.