Intrust Bank NA Buys 551 Shares of Agree Realty Co. (NYSE:ADC)

Intrust Bank NA increased its stake in Agree Realty Co. (NYSE:ADC) by 6.8% during the 4th quarter, HoldingsChannel reports. The firm owned 8,625 shares of the real estate investment trust’s stock after buying an additional 551 shares during the period. Intrust Bank NA’s holdings in Agree Realty were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of Agree Realty by 230.7% in the 4th 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 during the last quarter. Financial Life Planners purchased a new position in Agree Realty in the fourth quarter worth about $44,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Agree Realty during the 3rd quarter valued at about $77,000. Finally, UMB Bank n.a. lifted its stake in shares of Agree Realty by 17.3% in the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 168 shares during the period. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective for the company. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and boosted their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Finally, Mizuho cut their price objective on 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 investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.85.

Agree Realty Stock Up 0.7 %

Shares of NYSE:ADC opened at $76.56 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 business’s 50 day moving average is $73.80 and its 200 day moving average is $73.92. The stock has a market cap of $8.22 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a 52-week low of $54.78 and a 52-week high of $78.39.

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

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.253 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.97%. Agree Realty’s dividend payout ratio is presently 170.22%.

About Agree Realty

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.