Agree Realty Co. (NYSE:ADC) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in Agree Realty Co. (NYSE:ADC) by 91.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 454,253 shares of the real estate investment trust’s stock after acquiring an additional 216,852 shares during the period. Sei Investments Co. owned 0.44% of Agree Realty worth $32,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc boosted its position 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 during the period. Financial Life Planners acquired a new position in shares of Agree Realty during the fourth quarter valued at $44,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Agree Realty by 34.4% during the fourth 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 last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Agree Realty in the 3rd quarter worth about $77,000. Finally, UMB Bank n.a. lifted its position in Agree Realty by 17.3% in the 4th 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 last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Down 0.8 %

ADC stock opened at $75.09 on Wednesday. The firm has a market cap of $8.05 billion, a PE ratio of 42.19, a P/E/G ratio of 2.88 and a beta of 0.64. Agree Realty Co. has a 12 month low of $54.78 and a 12 month high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a 50 day simple moving average of $73.53 and a 200 day simple moving average of $73.91.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Equities research analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.04%. Agree Realty’s dividend payout ratio is currently 170.22%.

Analyst Ratings Changes

Several brokerages have commented on ADC. Royal Bank of Canada dropped their price target on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $79.00 to $84.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Agree Realty in a research report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target for the company. Stifel Nicolaus lowered their price target on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, JMP Securities downgraded shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.85.

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.