Napa Wealth Management Has $320,000 Stock Holdings in Agree Realty Co. (NYSE:ADC)

Napa Wealth Management boosted its position in Agree Realty Co. (NYSE:ADC) by 20.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,253 shares of the real estate investment trust’s stock after purchasing an additional 733 shares during the period. Napa Wealth Management’s holdings in Agree Realty were worth $320,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janney Montgomery Scott LLC boosted its position in shares of Agree Realty by 126.8% in the first quarter. Janney Montgomery Scott LLC now owns 9,100 shares of the real estate investment trust’s stock valued at $520,000 after acquiring an additional 5,087 shares during the period. US Bancorp DE boosted its holdings in Agree Realty by 4.8% in the 1st quarter. US Bancorp DE now owns 16,265 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 749 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Agree Realty by 1.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,433 shares of the real estate investment trust’s stock worth $3,509,000 after purchasing an additional 889 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Agree Realty by 12.3% during the first quarter. Orion Portfolio Solutions LLC now owns 28,132 shares of the real estate investment trust’s stock worth $1,607,000 after purchasing an additional 3,082 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Agree Realty by 1.8% in the first quarter. Vanguard Group Inc. now owns 14,480,463 shares of the real estate investment trust’s stock valued at $827,124,000 after buying an additional 258,217 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADC shares. Mizuho increased their price target on Agree Realty from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday. KeyCorp increased their target price on Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Raymond James raised their price target on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upped their price objective on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, UBS Group raised their target price on shares of Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine 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 a consensus rating of “Moderate Buy” and an average price target of $75.73.

Agree Realty Price Performance

ADC stock opened at $75.97 on Monday. The company has a market capitalization of $7.86 billion, a P/E ratio of 41.97, a PEG ratio of 3.08 and a beta of 0.61. The company has a fifty day moving average price of $75.03 and a 200-day moving average price of $68.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. Agree Realty Co. has a 52-week low of $54.28 and a 52-week high of $77.47.

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

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Friday, November 29th. Agree Realty’s dividend payout ratio is currently 167.96%.

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.