Agree Realty Co. (NYSE:ADC) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH decreased its position in shares of Agree Realty Co. (NYSE:ADC) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,287 shares of the real estate investment trust’s stock after selling 78,840 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.24% of Agree Realty worth $17,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADC. Versant Capital Management Inc increased its holdings 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 valued at $30,000 after acquiring an additional 293 shares during the period. MassMutual Private Wealth & Trust FSB grew its position 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 worth $63,000 after purchasing an additional 230 shares during the last quarter. UMB Bank n.a. increased its stake in Agree Realty by 44.5% in the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 299 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Agree Realty in the third quarter valued at about $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Agree Realty during the third quarter worth about $77,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Down 2.2 %

ADC opened at $71.53 on Thursday. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The business’s fifty day moving average is $73.02 and its two-hundred day moving average is $72.72. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.56 and a beta of 0.64.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business had revenue of $154.33 million during the quarter, compared to analysts’ expectations of $152.83 million. During the same period last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts anticipate that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Friday, January 31st. Agree Realty’s dividend payout ratio (DPR) is presently 167.96%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial boosted their price target on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho cut their price target 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. BTIG Research boosted their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Finally, Barclays began coverage on shares of Agree Realty in a report on Tuesday, December 17th. They issued an “underweight” rating and a $76.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.07.

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.