Oppenheimer Asset Management Inc. Has $1.16 Million Stock Holdings in Agree Realty Co. (NYSE:ADC)

Oppenheimer Asset Management Inc. increased its position in Agree Realty Co. (NYSE:ADC) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,353 shares of the real estate investment trust’s stock after buying an additional 484 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Agree Realty were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Long Pond Capital LP grew its holdings in Agree Realty by 489.8% during the 1st quarter. Long Pond Capital LP now owns 2,868,640 shares of the real estate investment trust’s stock worth $163,857,000 after acquiring an additional 2,382,252 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Agree Realty by 9,118.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock worth $92,487,000 after purchasing an additional 1,214,437 shares during the last quarter. PGGM Investments acquired a new stake in Agree Realty in the second quarter valued at $70,225,000. Daiwa Securities Group Inc. raised its position in Agree Realty by 55.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust’s stock worth $112,453,000 after purchasing an additional 650,921 shares during the last quarter. Finally, Leeward Investments LLC MA acquired a new position in Agree Realty during the 2nd quarter worth about $30,306,000. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

ADC has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Raymond James lifted their target price on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 21st. UBS Group upped their price target on shares of Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company lowered their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Mizuho upped their target price on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.73.

Agree Realty Stock Performance

Agree Realty stock opened at $76.75 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $75.03 and a 200-day moving average of $68.63. The firm has a market cap of $7.95 billion, a P/E ratio of 42.19, a P/E/G ratio of 3.08 and a beta of 0.61. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $77.47.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The company had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same period in the previous year, the company earned $1.00 earnings per share. Agree Realty’s quarterly revenue was up 12.8% on a year-over-year basis. Sell-side analysts expect that Agree Realty Co. will post 4.12 EPS for the current year.

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Friday, November 29th. Agree Realty’s payout ratio is 167.96%.

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.