Creative Financial Designs Inc. ADV Purchases 950 Shares of Agree Realty Co. (NYSE:ADC)

Creative Financial Designs Inc. ADV raised its position in Agree Realty Co. (NYSE:ADC) by 44.2% during the fourth quarter, Holdings Channel reports. The fund owned 3,101 shares of the real estate investment trust’s stock after acquiring an additional 950 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Agree Realty were worth $218,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in 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 valued at $274,693,000 after acquiring an additional 990,362 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Agree Realty by 29.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after buying an additional 534,545 shares during the period. FMR LLC raised its stake in shares of Agree Realty by 729.3% in the third quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after buying an additional 1,968,811 shares during the period. Geode Capital Management LLC raised its stake in shares of Agree Realty by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock worth $156,327,000 after buying an additional 30,377 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Agree Realty by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust’s stock worth $115,936,000 after buying an additional 57,297 shares during the period. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Royal Bank of Canada decreased their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company raised their price objective on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Citizens Jmp cut Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, BTIG Research increased their target price on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Five 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $79.85.

Agree Realty Stock Performance

NYSE ADC opened at $75.96 on Thursday. The stock has a market capitalization of $8.15 billion, a PE ratio of 42.67, a P/E/G ratio of 2.88 and a beta of 0.64. The business has a 50 day simple moving average of $73.05 and a two-hundred day simple moving average of $73.87. 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 Co. has a 1-year low of $54.78 and a 1-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, 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%. On average, research analysts predict that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty’s dividend payout ratio (DPR) 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.