Arizona State Retirement System grew its holdings in Agree Realty Co. (NYSE:ADC – Free Report) by 2.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,170 shares of the real estate investment trust’s stock after buying an additional 545 shares during the quarter. Arizona State Retirement System’s holdings in Agree Realty were worth $1,745,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in Agree Realty in the 4th quarter worth $71,409,000. Scout Investments Inc. lifted its stake in Agree Realty by 34.1% in the 4th quarter. Scout Investments Inc. now owns 844,367 shares of the real estate investment trust’s stock valued at $53,153,000 after buying an additional 214,840 shares in the last quarter. Swiss National Bank boosted its holdings in Agree Realty by 4.6% in the 1st quarter. Swiss National Bank now owns 198,382 shares of the real estate investment trust’s stock worth $11,332,000 after buying an additional 8,700 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Agree Realty by 35.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,079 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 1,074 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Agree Realty by 1.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 886,527 shares of the real estate investment trust’s stock valued at $50,638,000 after acquiring an additional 12,159 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
Agree Realty Price Performance
ADC stock opened at $75.96 on Thursday. Agree Realty Co. has a 52-week low of $52.69 and a 52-week high of $77.14. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. The business has a fifty day moving average of $69.74 and a two-hundred day moving average of $62.44.
Agree Realty Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.00 annualized dividend and a dividend yield of 3.95%. Agree Realty’s dividend payout ratio is currently 176.47%.
Analyst Ratings Changes
Several analysts recently commented on the company. Raymond James boosted their price target on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 21st. Truist Financial upped their target price on shares of Agree Realty from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus raised their price target on shares of Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, Wells Fargo & Company increased their price objective on shares of Agree Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.42.
View Our Latest Research Report on Agree Realty
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.
Recommended Stories
- Five stocks we like better than Agree Realty
- Upcoming IPO Stock Lockup Period, Explained
- Goldilocks CPI Report Leads Market to Sell Off, Lower Lows Ahead
- What is an Earnings Surprise?
- GameStop: Earnings Won’t Save It, Dilution Points to Trouble
- How to Choose Top Rated Stocks
- Dividend Aristocrats or Dividend Kings: Which Is Best for You?
Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Co. (NYSE:ADC – Free Report).
Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.com's FREE daily email newsletter.