Signaturefd LLC Purchases 663 Shares of Agree Realty Co. (NYSE:ADC)

Signaturefd LLC boosted its stake in shares of Agree Realty Co. (NYSE:ADC) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,903 shares of the real estate investment trust’s stock after buying an additional 663 shares during the quarter. Signaturefd LLC’s holdings in Agree Realty were worth $698,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ADC. Versant Capital Management Inc grew its position in Agree Realty by 230.7% during the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 293 shares during the period. Financial Life Planners bought a new position in Agree Realty during the fourth quarter valued at about $44,000. MassMutual Private Wealth & Trust FSB grew its position in Agree Realty by 34.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 230 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Agree Realty during the third quarter valued at about $77,000. Finally, UMB Bank n.a. grew its position in Agree Realty by 17.3% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 168 shares during the period. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the subject of several research reports. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Wells Fargo & Company increased their target price on shares of Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. Finally, Stifel Nicolaus cut their target price 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. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.85.

Agree Realty Trading Down 1.4 %

Shares of Agree Realty stock opened at $75.96 on Thursday. Agree Realty Co. has a 12-month low of $54.78 and a 12-month high of $78.39. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 2.88 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $73.05 and its 200-day moving average price is $73.87.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. On average, equities analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty’s dividend payout ratio is currently 170.22%.

Agree Realty Company 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.