Venturi Wealth Management LLC Takes Position in Agree Realty Co. (NYSE:ADC)

Venturi Wealth Management LLC bought a new stake in Agree Realty Co. (NYSE:ADC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,227 shares of the real estate investment trust’s stock, valued at approximately $157,000.

A number of other large investors also recently made changes to their positions in ADC. Versant Capital Management Inc increased its holdings in shares of Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 293 shares during the period. Financial Life Planners acquired a new position in shares of Agree Realty in the 4th quarter valued at about $44,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Agree Realty by 34.4% in 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 acquired a new position in shares of Agree Realty in the 3rd quarter valued at about $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Agree Realty in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Up 1.9 %

ADC opened at $72.73 on Friday. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $78.39. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 2.82 and a beta of 0.65. The business has a 50 day moving average of $71.43 and a 200-day moving average of $73.51.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share 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, sell-side analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.253 dividend. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty’s dividend payout ratio is 170.22%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADC. Royal Bank of Canada lowered their price target on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus lowered their price target on Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company lowered their price target on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. BTIG Research boosted their price target on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Truist Financial boosted their price target on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.62.

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.