Citizens National Bank Trust Department Sells 645 Shares of Agree Realty Co. (NYSE:ADC)

Citizens National Bank Trust Department decreased its holdings in shares of Agree Realty Co. (NYSE:ADC) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,898 shares of the real estate investment trust’s stock after selling 645 shares during the period. Citizens National Bank Trust Department’s holdings in Agree Realty were worth $1,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of 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 stake in Agree Realty in the fourth quarter valued at $44,000. MassMutual Private Wealth & Trust FSB increased its position in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 230 shares during the period. Arcadia Investment Management Corp MI bought a new position in Agree Realty in the 3rd quarter worth $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Agree Realty in the 3rd quarter worth about $77,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Up 0.3 %

Shares of ADC stock opened at $71.31 on Thursday. Agree Realty Co. has a 1 year low of $54.28 and a 1 year high of $78.39. The firm has a fifty day moving average price of $71.51 and a 200-day moving average price of $73.50. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 2.81 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

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

Agree Realty Dividend Announcement

The company also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.253 per share. This represents a yield of 4.2%. The ex-dividend date is Friday, February 28th. Agree Realty’s dividend payout ratio is currently 170.79%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADC shares. Stifel Nicolaus reduced their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday. Mizuho decreased their target price on Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

About Agree Realty

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.