66,352 Shares in Agree Realty Co. (NYSE:ADC) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC purchased a new position in Agree Realty Co. (NYSE:ADC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 66,352 shares of the real estate investment trust’s stock, valued at approximately $4,674,000. New Age Alpha Advisors LLC owned approximately 0.06% of Agree Realty as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADC. Spire Wealth Management acquired a new position in shares of Agree Realty in the 4th quarter valued at $411,000. abrdn plc lifted its holdings in Agree Realty by 33.7% during the 4th quarter. abrdn plc now owns 27,497 shares of the real estate investment trust’s stock worth $1,922,000 after buying an additional 6,924 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 during the period. Sage Investment Counsel LLC acquired a new stake in Agree Realty in the 4th quarter valued at about $329,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in Agree Realty by 24.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,129 shares of the real estate investment trust’s stock worth $1,348,000 after acquiring an additional 3,776 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADC has been the subject of several research reports. Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. JMP Securities cut Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Agree Realty in a research report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Agree Realty has an average rating of “Moderate Buy” and a consensus target price of $79.85.

Agree Realty Stock Performance

Shares of ADC opened at $76.56 on Friday. Agree Realty Co. has a 12-month low of $54.78 and a 12-month high of $78.39. The stock has a market capitalization of $8.22 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.88 and a beta of 0.64. The firm’s 50 day moving average is $73.80 and its 200-day moving average is $73.94. 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 posted 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%. Equities research analysts anticipate that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty’s payout ratio is 170.22%.

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.