Aew Capital Management L P Sells 1,200 Shares of Agree Realty Co. (NYSE:ADC)

Aew Capital Management L P decreased its stake in shares of Agree Realty Co. (NYSE:ADC) by 75.0% during the fourth quarter, Holdings Channel reports. The firm owned 400 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Aew Capital Management L P’s holdings in Agree Realty were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in shares of Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 293 shares during the last quarter. Financial Life Planners bought a new position in Agree Realty in the fourth quarter valued at about $44,000. MassMutual Private Wealth & Trust FSB boosted its position in Agree Realty by 34.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 230 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Agree Realty during the 3rd quarter valued at about $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Agree Realty during the 3rd quarter valued at about $77,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

ADC has been the topic of a number of research reports. Stifel Nicolaus dropped their price objective on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reduced their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Evercore ISI began coverage on Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 target price on the stock. BTIG Research upped their price target 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, Wells Fargo & Company lowered their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

Agree Realty Price Performance

ADC stock opened at $73.81 on Friday. The stock has a market cap of $7.92 billion, a PE ratio of 41.46, a P/E/G ratio of 2.88 and a beta of 0.65. Agree Realty Co. has a 12 month low of $54.28 and a 12 month high of $78.39. The company has a 50-day moving average price of $71.55 and a 200 day moving average price of $73.54. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 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%. Equities research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

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