Amundi Buys 2,482 Shares of Agree Realty Co. (NYSE:ADC)

Amundi grew its stake in Agree Realty Co. (NYSE:ADC) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,458 shares of the real estate investment trust’s stock after acquiring an additional 2,482 shares during the quarter. Amundi owned 0.06% of Agree Realty worth $4,004,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. FMR LLC raised its holdings in Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after acquiring an additional 1,968,811 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Agree Realty in the 4th quarter worth $101,382,000. JPMorgan Chase & Co. raised its stake in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after purchasing an additional 990,362 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after purchasing an additional 534,545 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Agree Realty by 92.6% during the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock valued at $53,815,000 after buying an additional 343,400 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Trading Up 1.7 %

Shares of NYSE:ADC opened at $76.86 on Monday. Agree Realty Co. has a 12-month low of $54.78 and a 12-month high of $78.39. The company has a market cap of $8.24 billion, a PE ratio of 43.18, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The stock has a 50 day moving average of $72.65 and a 200 day moving average of $73.80. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52.

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

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Stockholders 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 dividend yield of 3.95%. Agree Realty’s payout ratio is 170.22%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADC shares. Citizens Jmp cut shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Stifel Nicolaus lowered their price objective on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Evercore ISI began coverage on shares of Agree Realty in a research report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price for the company. Mizuho lowered their price target on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.85.

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.