Amalgamated Bank Has $3.45 Million Stock Position in Agree Realty Co. (NYSE:ADC)

Amalgamated Bank boosted its stake in shares of Agree Realty Co. (NYSE:ADC) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,972 shares of the real estate investment trust’s stock after acquiring an additional 1,166 shares during the quarter. Amalgamated Bank’s holdings in Agree Realty were worth $3,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADC. Private Advisor Group LLC increased its holdings in shares of Agree Realty by 11.4% in the third quarter. Private Advisor Group LLC now owns 4,739 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 485 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Agree Realty by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,906 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 1,008 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Agree Realty by 5.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,635 shares of the real estate investment trust’s stock valued at $726,000 after buying an additional 531 shares during the period. abrdn plc raised its position in shares of Agree Realty by 10.8% during the third quarter. abrdn plc now owns 20,573 shares of the real estate investment trust’s stock worth $1,550,000 after acquiring an additional 2,000 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Agree Realty by 1.5% during the third quarter. US Bancorp DE now owns 17,130 shares of the real estate investment trust’s stock valued at $1,290,000 after acquiring an additional 252 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ADC shares. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wells Fargo & Company reduced their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They set a “buy” rating and a $88.00 target price for the company. Finally, Barclays reduced their price target on Agree Realty from $76.00 to $74.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

Agree Realty Stock Up 0.2 %

Shares of Agree Realty stock opened at $73.81 on Friday. The company has a market capitalization of $7.92 billion, a P/E ratio of 41.46, a price-to-earnings-growth ratio of 2.88 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. The business has a 50-day moving average of $71.55 and a two-hundred day moving average of $73.54. Agree Realty Co. has a 1 year low of $54.28 and a 1 year high of $78.39.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS for the current year.

Agree Realty Announces Dividend

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 given a $0.253 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 4.2%. Agree Realty’s dividend payout ratio is currently 170.22%.

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.