Natixis Advisors LLC Has $6.49 Million Stock Holdings in Agree Realty Co. (NYSE:ADC)

Natixis Advisors LLC trimmed its position in Agree Realty Co. (NYSE:ADC) by 13.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 92,078 shares of the real estate investment trust’s stock after selling 13,796 shares during the period. Natixis Advisors LLC’s holdings in Agree Realty were worth $6,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in Agree Realty by 348.9% in the 3rd quarter. Citigroup Inc. now owns 347,496 shares of the real estate investment trust’s stock valued at $26,177,000 after buying an additional 270,093 shares in the last quarter. Spire Wealth Management acquired a new position in Agree Realty in the 4th quarter valued at $411,000. abrdn plc grew its holdings in Agree Realty by 33.7% in the 4th quarter. abrdn plc now owns 27,497 shares of the real estate investment trust’s stock valued at $1,922,000 after buying an additional 6,924 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Agree Realty by 37.3% in the 3rd 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. Finally, Oppenheimer Asset Management Inc. grew its holdings in Agree Realty by 24.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,129 shares of the real estate investment trust’s stock valued at $1,348,000 after buying an additional 3,776 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Price Performance

Shares of ADC stock opened at $75.48 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market cap of $8.10 billion, a P/E ratio of 42.40, a P/E/G ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39. The business has a fifty day simple moving average of $73.32 and a 200 day simple moving average of $73.90.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 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%. On average, sell-side analysts forecast that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a $0.253 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.04 annualized dividend and a yield of 4.02%. Agree Realty’s dividend payout ratio is presently 170.22%.

Analysts Set New Price Targets

ADC has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Evercore ISI initiated coverage on Agree Realty in a report on Thursday, December 12th. They set an “outperform” rating and a $82.00 target price on the stock. Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Mizuho reduced their target price on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and a consensus target price of $79.85.

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.