Transcend Capital Advisors LLC Decreases Stock Holdings in Agree Realty Co. (NYSE:ADC)

Transcend Capital Advisors LLC lessened its holdings in Agree Realty Co. (NYSE:ADC) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,697 shares of the real estate investment trust’s stock after selling 168 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Agree Realty were worth $1,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Private Advisor Group LLC raised its holdings in Agree Realty by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock worth $346,000 after purchasing an additional 170 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Agree Realty in the 4th quarter valued at $157,000. Truist Financial Corp raised its stake in Agree Realty by 0.8% during the 4th quarter. Truist Financial Corp now owns 51,464 shares of the real estate investment trust’s stock worth $3,626,000 after acquiring an additional 387 shares in the last quarter. CIBC Asset Management Inc lifted its position in Agree Realty by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 153 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in Agree Realty by 26.2% in the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 237 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Trading Up 1.9 %

Shares of Agree Realty stock opened at $72.73 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. Agree Realty Co. has a 52-week low of $54.28 and a 52-week high of $78.39. The company’s 50-day simple moving average is $71.43 and its 200-day simple moving average is $73.50.

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

Agree Realty Dividend Announcement

The firm also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.253 dividend. This represents a yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty’s dividend payout ratio (DPR) is currently 170.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADC. Royal Bank of Canada cut their target price on Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Mizuho cut 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. Wells Fargo & Company decreased their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 target price on the stock. Finally, JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.62.

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.