Agree Realty Co. (NYSE:ADC) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in Agree Realty Co. (NYSE:ADCFree Report) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,889 shares of the real estate investment trust’s stock after selling 835 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Agree Realty were worth $2,396,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. FMR LLC grew its holdings in Agree Realty by 729.3% in the third quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after purchasing an additional 1,968,811 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Agree Realty by 9,118.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock valued at $92,487,000 after buying an additional 1,214,437 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Agree Realty by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after acquiring an additional 990,362 shares during the period. Daiwa Securities Group Inc. increased its holdings in Agree Realty by 29.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after acquiring an additional 534,545 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Agree Realty by 92.6% during the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock worth $53,815,000 after acquiring an additional 343,400 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Up 0.5 %

ADC stock opened at $71.84 on Monday. The firm has a market cap of $7.44 billion, a PE ratio of 39.69, a PEG ratio of 2.52 and a beta of 0.64. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The firm’s 50 day moving average price is $72.85 and its 200-day moving average price is $72.93.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.253 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, January 31st. Agree Realty’s dividend payout ratio (DPR) is presently 167.96%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Mizuho decreased their price target on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $79.00 to $84.00 in a research report on Monday, January 6th. JMP Securities cut Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Stifel Nicolaus dropped their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.07.

Read Our Latest Stock Report on ADC

About Agree Realty

(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.

Further Reading

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Institutional Ownership by Quarter for Agree Realty (NYSE:ADC)

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