Agree Realty Co. (NYSE:ADC) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lessened its stake in Agree Realty Co. (NYSE:ADC) by 23.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 25,997 shares of the real estate investment trust’s stock after selling 7,842 shares during the period. Motley Fool Wealth Management LLC’s holdings in Agree Realty were worth $1,831,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Agree Realty by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 153 shares during the last quarter. Carmel Capital Partners LLC lifted its position in Agree Realty by 2.5% in the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock valued at $486,000 after buying an additional 167 shares during the last quarter. UMB Bank n.a. boosted its stake in Agree Realty by 17.3% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 168 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Agree Realty by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust’s stock valued at $323,000 after acquiring an additional 169 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Agree Realty by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. BTIG Research lifted their target price on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.85.

Agree Realty Stock Performance

Shares of ADC stock opened at $75.80 on Thursday. 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 company has a market cap of $8.13 billion, a P/E ratio of 42.59, a PEG ratio of 2.88 and a beta of 0.64. The firm has a fifty day moving average price of $73.64 and a 200 day moving average price of $73.92.

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

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.253 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.01%. Agree Realty’s dividend payout ratio 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.