Agree Realty Co. (NYSE:ADC) CAO Acquires $24,898.50 in Stock

Agree Realty Co. (NYSE:ADCGet Free Report) CAO Stephen Breslin purchased 450 shares of the stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $55.33 per share, with a total value of $24,898.50. Following the acquisition, the chief accounting officer now owns 10,441 shares of the company’s stock, valued at approximately $577,700.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Agree Realty Trading Up 2.5 %

NYSE ADC opened at $56.63 on Monday. The company has a market capitalization of $5.69 billion, a PE ratio of 33.12, a P/E/G ratio of 2.60 and a beta of 0.52. The company has a fifty day moving average of $58.68 and a 200 day moving average of $58.55. Agree Realty Co. has a 1 year low of $52.69 and a 1 year high of $69.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.74 and a quick ratio of 0.74.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be issued a dividend of $0.247 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Wednesday, March 27th. Agree Realty’s dividend payout ratio (DPR) is presently 173.10%.

Wall Street Analyst Weigh In

ADC has been the subject of several recent analyst reports. BNP Paribas downgraded Agree Realty from an “outperform” rating to a “neutral” rating and set a $64.00 price target for the company. in a report on Wednesday, December 13th. StockNews.com lowered Agree Realty from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. Wells Fargo & Company dropped their price target on Agree Realty from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada reduced their price objective on Agree Realty from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, JMP Securities upgraded Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 target price on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and an average price target of $65.61.

Get Our Latest Report on Agree Realty

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADC. HBC Financial Services PLLC purchased a new stake in shares of Agree Realty during the 4th quarter worth about $31,000. Northwestern Mutual Wealth Management Co. raised its holdings in Agree Realty by 7,150.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 435 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 429 shares during the period. Lindbrook Capital LLC boosted its position in Agree Realty by 267.1% during the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 430 shares in the last quarter. CWM LLC boosted its position in Agree Realty by 117.3% during the third quarter. CWM LLC now owns 728 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 393 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Agree Realty in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Company Profile

(Get Free Report)

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.

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