Amalgamated Bank Has $3.45 Million Stock Position in Agree Realty Co. (NYSE:ADC)

Amalgamated Bank increased its stake in Agree Realty Co. (NYSE:ADC) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 48,972 shares of the real estate investment trust’s stock after purchasing an additional 1,166 shares during the quarter. Amalgamated Bank’s holdings in Agree Realty were worth $3,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc lifted 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 last quarter. Financial Life Planners acquired a new stake in Agree Realty in the 4th quarter valued at about $44,000. MassMutual Private Wealth & Trust FSB grew its holdings 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 period. Arcadia Investment Management Corp MI bought a new position in Agree Realty during the third quarter worth about $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Agree Realty during the third quarter worth approximately $77,000. 97.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target for the company. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Barclays cut their target price on shares of Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, Evercore ISI started coverage on shares of Agree Realty in a research note on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price target on the stock. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.62.

Agree Realty Stock Performance

Shares of NYSE:ADC 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’s 50 day moving average price is $71.55 and its two-hundred day moving average price is $73.54. The firm has a market cap of $7.92 billion, a PE ratio of 41.46, a PEG ratio of 2.88 and a beta of 0.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC) last issued its quarterly 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%. Equities research analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

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