Kovack Advisors Inc. Has $302,000 Stock Position in Agree Realty Co. (NYSE:ADC)

Kovack Advisors Inc. reduced its stake in Agree Realty Co. (NYSE:ADC) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,290 shares of the real estate investment trust’s stock after selling 1,257 shares during the period. Kovack Advisors Inc.’s holdings in Agree Realty were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ADC. FMR LLC grew its holdings in shares of 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 worth $168,648,000 after purchasing an additional 1,968,811 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Agree Realty by 37.3% in the third 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 in the last quarter. Daiwa Securities Group Inc. grew its stake in Agree Realty by 29.4% during 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 buying an additional 534,545 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of 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 in the last quarter. Finally, Waterfront Capital Partners LLC bought a new position in shares of Agree Realty in the third quarter valued at approximately $21,326,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Up 0.2 %

Shares of NYSE ADC opened at $73.81 on Friday. 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 firm has a market capitalization of $7.92 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.65. The firm’s 50-day moving average is $71.62 and its 200-day moving average is $73.55. Agree Realty Co. has a 1 year low of $54.28 and a 1 year high of $78.39.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data 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 30.66% and a return on equity of 3.70%. Equities analysts expect that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid 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 dividend payout ratio (DPR) is presently 170.22%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada decreased their price target on Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. BTIG Research boosted their price objective on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Evercore ISI initiated coverage on Agree Realty in a research note on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price for the company. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.62.

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.