KBC Group NV Boosts Stake in Agree Realty Co. (NYSE:ADC)

KBC Group NV grew its stake in shares of Agree Realty Co. (NYSE:ADC) by 1,670.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,561 shares of the real estate investment trust’s stock after buying an additional 41,101 shares during the period. KBC Group NV’s holdings in Agree Realty were worth $3,069,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ADC. The Manufacturers Life Insurance Company increased its position in Agree Realty by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,674 shares of the real estate investment trust’s stock worth $6,422,000 after purchasing an additional 382 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Agree Realty during the 2nd quarter worth about $628,000. Creative Planning raised its position in shares of Agree Realty by 86.8% in the second quarter. Creative Planning now owns 56,819 shares of the real estate investment trust’s stock valued at $3,519,000 after buying an additional 26,398 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Agree Realty during the second quarter valued at approximately $1,235,000. Finally, Trust Co. of Toledo NA OH boosted its position in Agree Realty by 10.6% during the third quarter. Trust Co. of Toledo NA OH now owns 5,863 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 563 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Trading Down 0.7 %

NYSE:ADC opened at $72.60 on Friday. Agree Realty Co. has a 12 month low of $54.28 and a 12 month high of $78.39. The business’s 50-day moving average is $72.45 and its two-hundred day moving average is $73.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $7.52 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.64.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Friday, January 31st. Agree Realty’s dividend payout ratio (DPR) is presently 167.96%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $79.00 price target on shares of Agree Realty in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price objective on the stock. Finally, Mizuho lowered their target price on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.07.

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.