Agree Realty Corporation $ADC Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Agree Realty Corporation (NYSE:ADC) by 9.9% during the fourth quarter, Holdings Channel reports. The firm owned 86,309 shares of the real estate investment trust’s stock after selling 9,480 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Agree Realty were worth $6,217,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its stake in Agree Realty by 2.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after purchasing an additional 154 shares in the last quarter. AE Wealth Management LLC lifted its stake in Agree Realty by 3.5% during the third quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 156 shares in the last quarter. IFP Advisors Inc increased its position in shares of Agree Realty by 18.2% during the third quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 171 shares during the period. QRG Capital Management Inc. increased its position in shares of Agree Realty by 5.4% during the third quarter. QRG Capital Management Inc. now owns 3,395 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 174 shares during the period. Finally, HighPoint Advisor Group LLC increased its position in shares of Agree Realty by 5.8% during the third quarter. HighPoint Advisor Group LLC now owns 3,162 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 174 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADC has been the topic of a number of recent research reports. Truist Financial upped their price objective on Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Mizuho upped their price objective on Agree Realty from $75.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Stifel Nicolaus upped their price objective on Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. BMO Capital Markets lowered Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a research report on Friday. Finally, Barclays upped their price objective on Agree Realty from $81.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.27.

Agree Realty Stock Down 0.7%

Agree Realty stock opened at $78.97 on Wednesday. The firm has a market capitalization of $9.48 billion, a P/E ratio of 44.61, a P/E/G ratio of 2.68 and a beta of 0.53. The stock’s fifty day simple moving average is $78.17 and its 200-day simple moving average is $74.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. Agree Realty Corporation has a twelve month low of $69.56 and a twelve month high of $82.08.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a return on equity of 3.79% and a net margin of 28.44%.Agree Realty’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities analysts expect that Agree Realty Corporation will post 4.42 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be issued a $0.267 dividend. This represents a c) annualized dividend and a yield of 4.1%. This is a boost from Agree Realty’s previous monthly dividend of $0.26. The ex-dividend date of this dividend is Thursday, April 30th. Agree Realty’s dividend payout ratio is currently 180.79%.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.