E. Ohman J or Asset Management AB Sells 3,449 Shares of Agree Realty Co. (NYSE:ADC)

E. Ohman J or Asset Management AB lowered its position in shares of Agree Realty Co. (NYSE:ADC) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,638 shares of the real estate investment trust’s stock after selling 3,449 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Agree Realty were worth $1,665,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Citigroup Inc. raised its holdings in Agree Realty by 348.9% during the 3rd quarter. Citigroup Inc. now owns 347,496 shares of the real estate investment trust’s stock worth $26,177,000 after purchasing an additional 270,093 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after buying an additional 990,362 shares during the period. Vanderbilt University raised its stake in shares of Agree Realty by 148.9% during the third quarter. Vanderbilt University now owns 16,933 shares of the real estate investment trust’s stock worth $1,276,000 after buying an additional 10,129 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Agree Realty by 40.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 118,306 shares of the real estate investment trust’s stock valued at $8,912,000 after buying an additional 33,914 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Agree Realty by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust’s stock valued at $119,651,000 after acquiring an additional 57,354 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of Agree Realty stock opened at $72.53 on Wednesday. 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 cap of $7.51 billion, a price-to-earnings ratio of 40.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.65. The stock’s 50-day moving average is $72.29 and its 200-day moving average is $73.29. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39.

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 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 4.19%. The ex-dividend date is Friday, January 31st. Agree Realty’s dividend payout ratio (DPR) is currently 167.96%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADC shares. Mizuho dropped their target price on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays dropped their price objective on Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday. Evercore ISI began coverage on Agree Realty in a report on Thursday, December 12th. They set an “outperform” rating and a $82.00 target price on the stock. Stifel Nicolaus decreased their target price on Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and increased their price target for the company from $79.00 to $84.00 in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.93.

Agree Realty Company 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.