Agree Realty Co. (NYSE:ADC) Stock Position Raised by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its position in Agree Realty Co. (NYSE:ADC) by 0.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,056,071 shares of the real estate investment trust’s stock after buying an additional 4,863 shares during the quarter. GW&K Investment Management LLC’s holdings in Agree Realty were worth $74,400,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Agree Realty by 729.3% in the third quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after acquiring an additional 1,968,811 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Agree Realty by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after purchasing an additional 990,362 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Agree Realty by 29.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after purchasing an additional 534,545 shares in the last quarter. Two Sigma Advisers LP increased its position in Agree Realty by 92.6% during the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock worth $53,815,000 after buying an additional 343,400 shares during the last quarter. Finally, Waterfront Capital Partners LLC bought a new position in Agree Realty during the third quarter valued at about $21,326,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ADC shares. Royal Bank of Canada decreased their price target on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and upped their target price for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. Mizuho decreased their price objective on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus dropped their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

Agree Realty Trading Up 1.2 %

Shares of Agree Realty stock opened at $73.66 on Friday. Agree Realty Co. has a 52-week low of $54.28 and a 52-week high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a 50-day moving average of $71.46 and a 200-day moving average of $73.54. The stock has a market cap of $7.90 billion, a PE ratio of 41.38, a PEG ratio of 2.88 and a beta of 0.65.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 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%. As a group, sell-side analysts forecast that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The business also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.253 per share. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty’s payout ratio is 170.22%.

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.