Wealthspire Advisors LLC Has $320,000 Stock Position in Agree Realty Co. (NYSE:ADC)

Wealthspire Advisors LLC grew its position in Agree Realty Co. (NYSE:ADC) by 14.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,548 shares of the real estate investment trust’s stock after buying an additional 572 shares during the period. Wealthspire Advisors LLC’s holdings in Agree Realty were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. boosted its position in shares of Agree Realty by 348.9% in the 3rd quarter. Citigroup Inc. now owns 347,496 shares of the real estate investment trust’s stock worth $26,177,000 after purchasing an additional 270,093 shares during the last quarter. Spire Wealth Management bought a new position in shares of Agree Realty in the 4th quarter worth $411,000. abrdn plc boosted its position in shares of Agree Realty by 33.7% in the 4th quarter. abrdn plc now owns 27,497 shares of the real estate investment trust’s stock worth $1,922,000 after purchasing an additional 6,924 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Agree Realty by 37.3% in 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 purchasing an additional 990,362 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Agree Realty by 1,670.8% in the 4th quarter. KBC Group NV now owns 43,561 shares of the real estate investment trust’s stock worth $3,069,000 after purchasing an additional 41,101 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Stock Performance

ADC opened at $73.66 on Friday. The business’s 50-day moving average price is $71.46 and its two-hundred day moving average price is $73.54. Agree Realty Co. has a 1 year low of $54.28 and a 1 year high of $78.39. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 41.38, a P/E/G ratio of 2.88 and a beta of 0.65. 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 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 fiscal year.

Agree Realty Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on ADC shares. Mizuho reduced their price target 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. Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Stifel Nicolaus reduced their target price on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. Finally, Wells Fargo & Company reduced their target price on Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One investment 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’s stock. According to MarketBeat.com, Agree Realty presently has a consensus rating of “Moderate Buy” and an average 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.