Oppenheimer Asset Management Inc. Grows Position in Agree Realty Co. (NYSE:ADC)

Oppenheimer Asset Management Inc. lifted its position in shares of Agree Realty Co. (NYSE:ADC) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,129 shares of the real estate investment trust’s stock after purchasing an additional 3,776 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Agree Realty were worth $1,348,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADC. CIBC Asset Management Inc grew its position in Agree Realty by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 153 shares during the period. UMB Bank n.a. grew its position in shares of Agree Realty by 17.3% during the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 168 shares during the period. Private Advisor Group LLC increased 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 purchasing an additional 170 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Agree Realty by 34.4% in 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 period. Finally, Principal Securities Inc. boosted its position in Agree Realty by 26.2% during the fourth quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 237 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Price Performance

ADC stock opened at $74.07 on Tuesday. Agree Realty Co. has a 1 year low of $54.78 and a 1 year high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $7.94 billion, a PE ratio of 41.61, a price-to-earnings-growth ratio of 2.88 and a beta of 0.65. The business has a 50 day simple moving average of $71.69 and a 200-day simple moving average of $73.59.

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, 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%. Equities research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

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

Analyst Ratings Changes

ADC has been the subject of several research analyst reports. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Evercore ISI began coverage on shares of Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price target for the company. Finally, Stifel Nicolaus lowered their price objective on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have assigned 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.com, Agree Realty currently has an average rating of “Moderate Buy” and an average target price of $79.62.

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.