Mitsubishi UFJ Asset Management Co. Ltd. Has $4.78 Million Stock Position in Agree Realty Co. (NYSE:ADC)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Agree Realty Co. (NYSE:ADC) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,023 shares of the real estate investment trust’s stock after buying an additional 3,600 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Agree Realty were worth $4,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 293 shares during the period. Financial Life Planners acquired a new stake in Agree Realty in the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB increased its stake in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 230 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Agree Realty during the third quarter worth $77,000. Finally, UMB Bank n.a. lifted its stake in shares of Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 168 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADC shares. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 target price on the stock. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Royal Bank of Canada dropped their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Mizuho reduced their target price on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.85.

Agree Realty Trading Down 0.5 %

NYSE:ADC opened at $76.82 on Wednesday. Agree Realty Co. has a 12 month low of $54.78 and a 12 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. The firm’s 50 day moving average is $73.96 and its 200 day moving average is $73.92. The stock has a market capitalization of $8.25 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64.

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, beating 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%. Sell-side analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a dividend yield of 3.95%. Agree Realty’s payout ratio is 170.22%.

Agree Realty Company 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.