Agree Realty Co. (NYSE:ADC) Stake Boosted by William Blair Investment Management LLC

William Blair Investment Management LLC grew its stake in shares of Agree Realty Co. (NYSE:ADC) by 0.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 691,517 shares of the real estate investment trust’s stock after acquiring an additional 180 shares during the period. William Blair Investment Management LLC owned 0.67% of Agree Realty worth $48,717,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADC. Atria Investments Inc boosted its holdings in Agree Realty by 9.7% in the third quarter. Atria Investments Inc now owns 12,928 shares of the real estate investment trust’s stock worth $974,000 after purchasing an additional 1,142 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Agree Realty by 3.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 15,353 shares of the real estate investment trust’s stock worth $1,157,000 after purchasing an additional 484 shares in the last quarter. KBC Group NV boosted its holdings in Agree Realty by 15.0% in the third quarter. KBC Group NV now owns 2,460 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 320 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Agree Realty by 29.7% in the third quarter. Metis Global Partners LLC now owns 10,336 shares of the real estate investment trust’s stock worth $779,000 after purchasing an additional 2,366 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Agree Realty in the third quarter worth $224,000. 97.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADC has been the subject of a number of recent research reports. Evercore ISI initiated coverage on shares of Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective for the company. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Royal Bank of Canada decreased their price target on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. BTIG Research upped their price target on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $79.85.

Agree Realty Stock Performance

NYSE ADC opened at $77.14 on Tuesday. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 43.34, a PEG ratio of 2.88 and a beta of 0.64. The company has a 50 day moving average of $72.78 and a 200-day moving average of $73.83. 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 $54.78 and a 1-year high of $78.39.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. On average, equities analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a yield of 3.94%. Agree Realty’s payout ratio is presently 170.22%.

About Agree Realty

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.