Agree Realty Co. (NYSE:ADC) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lowered its stake in shares of Agree Realty Co. (NYSE:ADC) by 23.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,997 shares of the real estate investment trust’s stock after selling 7,842 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Agree Realty were worth $1,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in Agree Realty by 230.7% during 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 in the last quarter. Financial Life Planners purchased a new position in Agree Realty in the 4th quarter worth $44,000. MassMutual Private Wealth & Trust FSB lifted its position in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 230 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Agree Realty during the 3rd quarter valued at about $77,000. Finally, UMB Bank n.a. increased its holdings in shares of Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 168 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Price Performance

Shares of NYSE ADC opened at $75.80 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a fifty day moving average of $73.64 and a 200 day moving average of $73.92. The firm has a market cap of $8.13 billion, a PE ratio of 42.59, a PEG ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a one year low of $54.78 and a one year high of $78.39.

Agree Realty (NYSE:ADC) last released 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 net margin of 30.66% and a return on equity of 3.70%. As a group, research analysts predict that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The company 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 annualized dividend and a yield of 4.01%. The ex-dividend date is Monday, March 31st. Agree Realty’s dividend payout ratio is currently 170.22%.

Analysts Set New Price Targets

ADC has been the topic of a number of recent research reports. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Barclays upgraded shares of 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 research report on Tuesday, March 4th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Finally, Stifel Nicolaus decreased their price objective on Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.