Integrated Investment Consultants LLC Decreases Position in Agree Realty Co. (NYSE:ADC)

Integrated Investment Consultants LLC lessened its holdings in Agree Realty Co. (NYSE:ADC) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,301 shares of the real estate investment trust’s stock after selling 175 shares during the period. Integrated Investment Consultants LLC’s holdings in Agree Realty were worth $373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in 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 buying an additional 990,362 shares during the period. Daiwa Securities Group Inc. boosted its position in Agree Realty by 29.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after buying an additional 534,545 shares during the period. FMR LLC boosted its position in Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after buying an additional 1,968,811 shares during the period. Geode Capital Management LLC boosted its position in Agree Realty by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock valued at $156,327,000 after buying an additional 30,377 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Agree Realty by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust’s stock worth $119,651,000 after purchasing an additional 57,354 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Up 0.4 %

NYSE ADC opened at $72.46 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $7.50 billion, a PE ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 0.64. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. The firm’s fifty day moving average is $73.25 and its two-hundred day moving average is $72.50.

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

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.19%. Agree Realty’s dividend payout ratio (DPR) is 167.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADC. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price objective for the company. Stifel Nicolaus decreased their price objective 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. 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 research report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.53.

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.