Pathway Financial Advisers LLC Boosts Stock Position in Agree Realty Co. (NYSE:ADC)

Pathway Financial Advisers LLC lifted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,747 shares of the real estate investment trust’s stock after purchasing an additional 449 shares during the period. Pathway Financial Advisers LLC’s holdings in Agree Realty were worth $1,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 293 shares in the last quarter. Financial Life Planners purchased a new stake in Agree Realty in the fourth quarter worth about $44,000. MassMutual Private Wealth & Trust FSB boosted its position in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 230 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Agree Realty during the 3rd quarter valued at approximately $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Agree Realty during the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADC shares. Robert W. Baird raised their target price on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. BTIG Research raised their price objective on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $79.00 target price on shares of Agree Realty in a research report on Tuesday, January 28th. Stifel Nicolaus lowered their price target on shares of 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, StockNews.com cut shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and a consensus price target of $78.93.

Agree Realty Trading Down 1.8 %

Agree Realty stock opened at $71.27 on Thursday. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. The business’s fifty day moving average is $71.85 and its 200 day moving average is $73.46. 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 stock has a market capitalization of $7.38 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 2.87 and a beta of 0.65.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. On average, sell-side analysts predict that Agree Realty Co. will post 4.13 EPS for the current year.

Agree Realty Dividend Announcement

The business also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.253 dividend. This represents a yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty’s dividend payout ratio (DPR) is presently 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.