Sequoia Financial Advisors LLC Has $323,000 Stake in Agree Realty Co. (NYSE:ADC)

Sequoia Financial Advisors LLC lifted its stake in Agree Realty Co. (NYSE:ADC) by 3.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,590 shares of the real estate investment trust’s stock after buying an additional 169 shares during the period. Sequoia Financial Advisors LLC’s holdings in Agree Realty were worth $323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in Agree Realty by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock worth $220,000 after acquiring an additional 153 shares in the last quarter. Carmel Capital Partners LLC raised its holdings in Agree Realty by 2.5% during the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock worth $486,000 after acquiring an additional 167 shares in the last quarter. UMB Bank n.a. raised its holdings in Agree Realty by 17.3% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 168 shares in the last quarter. Private Advisor Group LLC raised its holdings in Agree Realty by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 170 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Agree Realty by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,204 shares of the real estate investment trust’s stock worth $2,057,000 after acquiring an additional 229 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADC. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. Mizuho dropped their price objective on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, BTIG Research upped their price objective on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.85.

Agree Realty Price Performance

Agree Realty stock opened at $75.96 on Thursday. Agree Realty Co. has a 12 month low of $54.78 and a 12 month high of $78.39. The stock’s 50 day moving average is $73.05 and its 200-day moving average is $73.87. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 2.88 and a beta of 0.64.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Equities research analysts expect that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Monday, March 31st. Agree Realty’s dividend payout ratio is currently 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.