American Century Companies Inc. Sells 524,814 Shares of Agree Realty Co. (NYSE:ADC)

American Century Companies Inc. decreased its position in Agree Realty Co. (NYSE:ADC) by 21.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,894,047 shares of the real estate investment trust’s stock after selling 524,814 shares during the quarter. American Century Companies Inc. owned 1.83% of Agree Realty worth $133,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Agree Realty by 45.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,574 shares of the real estate investment trust’s stock worth $4,056,000 after buying an additional 18,120 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Agree Realty by 28.9% in the 4th quarter. Teacher Retirement System of Texas now owns 16,009 shares of the real estate investment trust’s stock worth $1,128,000 after buying an additional 3,591 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in Agree Realty by 70.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,110 shares of the real estate investment trust’s stock worth $360,000 after buying an additional 2,106 shares during the last quarter. Xponance Inc. lifted its position in Agree Realty by 11.0% in the 4th quarter. Xponance Inc. now owns 11,962 shares of the real estate investment trust’s stock worth $843,000 after buying an additional 1,188 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Agree Realty by 7.2% in the 4th quarter. Signaturefd LLC now owns 9,903 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 663 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ADC shares. Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their price objective on Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. Evercore ISI initiated coverage on Agree Realty in a research report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective for the company. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $79.00 to $84.00 in a research report on Monday, January 6th. Finally, JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.85.

Agree Realty Price Performance

ADC opened at $75.48 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. Agree Realty Co. has a 52-week low of $54.78 and a 52-week high of $78.39. The stock has a market capitalization of $8.10 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The stock’s 50 day moving average price is $73.32 and its 200-day moving average price is $73.90.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping 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, equities research analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The company also recently declared 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. 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 payout ratio is 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.