Trust Point Inc. Purchases 1,127 Shares of Agree Realty Co. (NYSE:ADC)

Trust Point Inc. raised its position in Agree Realty Co. (NYSE:ADC) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,011 shares of the real estate investment trust’s stock after buying an additional 1,127 shares during the quarter. Trust Point Inc.’s holdings in Agree Realty were worth $846,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in Agree Realty in the 2nd quarter valued at about $1,235,000. SG Americas Securities LLC raised its position in shares of Agree Realty by 33.9% in the third quarter. SG Americas Securities LLC now owns 17,305 shares of the real estate investment trust’s stock valued at $1,304,000 after purchasing an additional 4,385 shares during the period. Handelsbanken Fonder AB raised its position in shares of Agree Realty by 60.0% in the third quarter. Handelsbanken Fonder AB now owns 29,337 shares of the real estate investment trust’s stock valued at $2,210,000 after purchasing an additional 11,000 shares during the period. GAMMA Investing LLC lifted its stake in shares of Agree Realty by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,154 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 751 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Agree Realty by 2.5% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,340 shares of the real estate investment trust’s stock worth $854,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $72.53 on Wednesday. The business’s 50-day moving average price is $72.29 and its 200-day moving average price is $73.29. The firm has a market capitalization of $7.51 billion, a PE ratio of 40.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.65. Agree Realty Co. has a 12 month low of $54.28 and a 12 month high of $78.39. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.253 dividend. 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%.

Analysts Set New Price Targets

ADC has been the topic of a number of analyst reports. Citizens Jmp cut shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price objective on the stock. BTIG Research lifted their target price on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird upped their price target on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Barclays cut their price objective on shares of Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.93.

Agree Realty 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.