Signaturefd LLC Acquires 663 Shares of Agree Realty Co. (NYSE:ADC)

Signaturefd LLC boosted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,903 shares of the real estate investment trust’s stock after acquiring an additional 663 shares during the quarter. Signaturefd LLC’s holdings in Agree Realty were worth $698,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ADC. KBC Group NV boosted its stake in shares of Agree Realty by 15.0% in the 3rd quarter. KBC Group NV now owns 2,460 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 320 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Agree Realty in the 3rd quarter valued at $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 valued at $7,975,000 after purchasing 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 valued at $1,946,000 after purchasing an additional 3,535 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Agree Realty in the 3rd quarter valued at $262,000. 97.83% of the stock is owned by institutional investors.

Agree Realty Stock Performance

ADC opened at $75.96 on Thursday. 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’s fifty day moving average price is $73.05 and its two-hundred day moving average price is $73.87. Agree Realty Co. has a 1-year low of $54.78 and a 1-year high of $78.39. The company has a market cap 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 released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share 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, analysts expect that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.00%. Agree Realty’s payout ratio is 170.22%.

Analyst Ratings Changes

A number of research firms have recently commented on ADC. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Mizuho dropped their target price on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BTIG Research boosted their target price on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their target price on shares of Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. Finally, StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.85.

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.