OVERSEA CHINESE BANKING Corp Ltd Has $4.47 Million Stock Position in Agree Realty Co. (NYSE:ADC)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Agree Realty Co. (NYSE:ADC) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,420 shares of the real estate investment trust’s stock after selling 4,351 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.06% of Agree Realty worth $4,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. increased its position in Agree Realty by 348.9% during the third quarter. Citigroup Inc. now owns 347,496 shares of the real estate investment trust’s stock worth $26,177,000 after acquiring an additional 270,093 shares during the period. Spire Wealth Management bought a new position in Agree Realty during the fourth quarter worth $411,000. abrdn plc increased its position in Agree Realty by 33.7% during the fourth quarter. abrdn plc now owns 27,497 shares of the real estate investment trust’s stock worth $1,922,000 after acquiring an additional 6,924 shares during the period. JPMorgan Chase & Co. increased its position in Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after acquiring an additional 990,362 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Agree Realty by 24.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,129 shares of the real estate investment trust’s stock worth $1,348,000 after acquiring an additional 3,776 shares during the period. Institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company boosted their price target on shares of Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Barclays raised shares of Agree Realty from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. Finally, Evercore ISI assumed coverage on shares of Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price target on the stock. Five 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 MarketBeat, Agree Realty has an average rating of “Moderate Buy” and a consensus target price of $79.85.

Agree Realty Stock Down 0.2 %

Shares of NYSE ADC opened at $76.98 on Wednesday. The firm’s 50-day simple moving average is $72.92 and its 200 day simple moving average is $73.85. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 43.25, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a 12-month low of $54.78 and a 12-month high of $78.39.

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 the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. On average, research analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.04 annualized dividend and a yield of 3.94%. Agree Realty’s dividend payout ratio (DPR) is 170.22%.

Agree Realty 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.