Farther Finance Advisors LLC Increases Position in Agree Realty Co. (NYSE:ADC)

Farther Finance Advisors LLC lifted its holdings in Agree Realty Co. (NYSE:ADC) by 857.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,206 shares of the real estate investment trust’s stock after acquiring an additional 1,080 shares during the quarter. Farther Finance Advisors LLC’s holdings in Agree Realty were worth $85,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADC. CIBC Asset Management Inc purchased a new position in shares of Agree Realty in the 3rd quarter worth approximately $224,000. Natixis Advisors LLC boosted its stake in shares of Agree Realty by 20.7% in the 3rd quarter. Natixis Advisors LLC now owns 105,874 shares of the real estate investment trust’s stock worth $7,975,000 after buying an additional 18,171 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of Agree Realty by 15.9% in the 3rd quarter. Pathstone Holdings LLC now owns 25,833 shares of the real estate investment trust’s stock worth $1,946,000 after buying an additional 3,535 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Agree Realty in the 3rd quarter worth approximately $262,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Agree Realty by 3.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,914 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Down 1.0 %

Shares of ADC stock opened at $75.48 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. Agree Realty Co. has a 52-week low of $54.78 and a 52-week high of $78.39. The company has a market capitalization of $8.10 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The business’s fifty day moving average is $73.32 and its 200 day moving average is $73.90.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data 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%. On average, equities research analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.02%. Agree Realty’s dividend payout ratio (DPR) is presently 170.22%.

Analysts Set New Price Targets

Several equities analysts recently commented on ADC shares. 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. Wells Fargo & Company upped their price objective on Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. 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. Finally, Barclays upgraded Agree Realty from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $74.00 to $75.00 in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $79.85.

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.