Agree Realty Co. (NYSE:ADC) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its stake in shares of Agree Realty Co. (NYSE:ADC) by 13.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,831 shares of the real estate investment trust’s stock after acquiring an additional 933 shares during the period. Crossmark Global Holdings Inc.’s holdings in Agree Realty were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Dana Investment Advisors Inc. raised its holdings in Agree Realty by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 29,274 shares of the real estate investment trust’s stock worth $1,813,000 after purchasing an additional 170 shares during the last quarter. Capital Square LLC boosted its position in shares of Agree Realty by 1.0% in the 2nd quarter. Capital Square LLC now owns 17,995 shares of the real estate investment trust’s stock worth $1,193,000 after buying an additional 179 shares in the last quarter. Blue Trust Inc. increased its holdings in Agree Realty by 8.8% during the 2nd quarter. Blue Trust Inc. now owns 2,634 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 213 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Agree Realty by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,895 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 216 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Agree Realty by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock valued at $4,438,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. BTIG Research upped their price objective on Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Raymond James increased their price objective on Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 21st. UBS Group boosted their target price on shares of Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, StockNews.com cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.73.

Agree Realty Stock Up 0.5 %

Shares of ADC opened at $75.96 on Friday. The firm has a market cap of $7.86 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 3.11 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $75.03 and its two-hundred day moving average is $68.48. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $77.47.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The firm had revenue of $154.33 million during the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. Agree Realty’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 EPS. Analysts forecast that Agree Realty Co. will post 4.12 earnings per share for the current year.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.04 dividend on an annualized basis and a yield of 4.00%. Agree Realty’s dividend payout ratio (DPR) is 167.96%.

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.