Agree Realty Co. (NYSE:ADC) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its holdings in Agree Realty Co. (NYSE:ADC) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,233,377 shares of the real estate investment trust’s stock after selling 116,679 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Agree Realty were worth $157,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after buying an additional 1,968,811 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Agree Realty in the fourth quarter worth approximately $101,382,000. JPMorgan Chase & Co. boosted its position in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after acquiring an additional 990,362 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Agree Realty by 92.6% in the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock valued at $53,815,000 after purchasing an additional 343,400 shares during the period. Finally, Waterfront Capital Partners LLC acquired a new position in Agree Realty during the third quarter worth approximately $21,326,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADC. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $74.00 to $75.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada dropped their target price on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.69.

Agree Realty Price Performance

Shares of ADC stock opened at $75.95 on Monday. The firm has a fifty day simple moving average of $72.05 and a 200-day simple moving average of $73.68. The company has a market capitalization of $8.15 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39. 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 posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. Equities research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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