Hazelview Securities Inc. Decreases Position in Agree Realty Co. (NYSE:ADC)

Hazelview Securities Inc. cut its position in Agree Realty Co. (NYSE:ADC) by 26.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 276,960 shares of the real estate investment trust’s stock after selling 100,700 shares during the period. Agree Realty makes up about 3.0% of Hazelview Securities Inc.’s investment portfolio, making the stock its 15th largest holding. Hazelview Securities Inc. owned about 0.28% of Agree Realty worth $15,806,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADC. HBC Financial Services PLLC purchased a new position in shares of Agree Realty during the fourth quarter valued at approximately $31,000. Lindbrook Capital LLC raised its holdings in shares of Agree Realty by 267.1% during the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 430 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Agree Realty during the fourth quarter valued at approximately $44,000. Jamison Private Wealth Management Inc. raised its holdings in shares of Agree Realty by 96.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 364 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Agree Realty during the fourth quarter valued at approximately $63,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Agree Realty news, Director Greg Lehmkuhl purchased 1,000 shares of Agree Realty stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $58.99 per share, with a total value of $58,990.00. Following the transaction, the director now owns 23,036 shares of the company’s stock, valued at approximately $1,358,893.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Agree Realty Stock Down 0.0 %

Shares of NYSE:ADC traded down $0.03 during trading on Wednesday, reaching $60.80. The stock had a trading volume of 233,519 shares, compared to its average volume of 940,798. Agree Realty Co. has a one year low of $52.69 and a one year high of $69.26. The company has a market capitalization of $6.12 billion, a P/E ratio of 35.78, a PEG ratio of 2.40 and a beta of 0.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $59.62 and its 200 day simple moving average is $59.15.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, June 28th. Agree Realty’s dividend payout ratio is presently 176.47%.

Analysts Set New Price Targets

ADC has been the subject of several recent research reports. KeyCorp initiated coverage on shares of Agree Realty in a research report on Wednesday, June 12th. They set an “overweight” rating and a $68.00 target price for the company. Mizuho boosted their target price on shares of Agree Realty from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Truist Financial dropped their price target on shares of Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, UBS Group began coverage on shares of Agree Realty in a research report on Friday, May 31st. They issued a “neutral” rating and a $60.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and an average target price of $65.50.

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.