Agree Realty Co. (NYSE:ADC) Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lifted its stake in shares of Agree Realty Co. (NYSE:ADC) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,054 shares of the real estate investment trust’s stock after buying an additional 600 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Agree Realty were worth $1,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Agree Realty by 230.7% during the fourth 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 in the last quarter. Financial Life Planners purchased a new stake in Agree Realty during the fourth quarter worth approximately $44,000. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $63,000 after purchasing an additional 230 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Agree Realty during the third quarter worth approximately $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Agree Realty during the third quarter worth approximately $77,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Price Performance

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

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

Agree Realty Dividend Announcement

The business also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.253 per share. This represents a dividend yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty’s dividend payout ratio (DPR) is presently 170.22%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ADC. Deutsche Bank Aktiengesellschaft began coverage on Agree Realty in a research note on Wednesday, December 11th. They set a “buy” rating and a $88.00 target price for the company. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Stifel Nicolaus decreased their target price on Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Citizens Jmp cut Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, 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. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus 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.