Venturi Wealth Management LLC Buys New Holdings in Agree Realty Co. (NYSE:ADC)

Venturi Wealth Management LLC bought a new stake in Agree Realty Co. (NYSE:ADC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,227 shares of the real estate investment trust’s stock, valued at approximately $157,000.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of 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 purchasing an additional 293 shares in the last quarter. Financial Life Planners acquired a new position in Agree Realty during the fourth quarter worth $44,000. MassMutual Private Wealth & Trust FSB raised its stake 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 acquiring an additional 230 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Agree Realty during the third quarter worth $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Agree Realty during the third quarter worth $77,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Price Performance

Shares of ADC opened at $72.73 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a 1 year low of $54.28 and a 1 year high of $78.39. The stock has a market cap of $7.80 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. The stock’s 50-day moving average price is $71.43 and its two-hundred day moving average price is $73.51.

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, 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%. On average, equities analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.253 per share. This represents a yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty’s dividend payout ratio (DPR) is currently 170.22%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ADC shares. Wells Fargo & Company dropped their price objective 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. BTIG Research increased their target price on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Evercore ISI initiated coverage on Agree Realty in a report on Thursday, December 12th. They set an “outperform” rating and a $82.00 target price on the stock. Stifel Nicolaus decreased their target price on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and a consensus target price of $79.62.

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.