Agree Realty Co. (NYSE:ADC) Stock Position Raised by Signaturefd LLC

Signaturefd LLC boosted its stake in Agree Realty Co. (NYSE:ADCGet Rating) by 124.5% in the first quarter, Holdings Channel reports. The institutional investor owned 1,614 shares of the real estate investment trust’s stock after acquiring an additional 895 shares during the quarter. Signaturefd LLC’s holdings in Agree Realty were worth $107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AGF Investments LLC acquired a new position in Agree Realty in the 4th quarter valued at $37,000. CWM LLC lifted its holdings in shares of Agree Realty by 261.5% during the 1st quarter. CWM LLC now owns 564 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 408 shares during the period. UMB Bank N A MO bought a new position in shares of Agree Realty during the 4th quarter worth about $49,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Agree Realty by 21.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,636 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 288 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Agree Realty by 331.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,951 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 1,499 shares during the last quarter.

Agree Realty Stock Performance

Shares of ADC stock opened at $76.89 on Wednesday. The firm has a 50 day moving average of $71.64 and a 200-day moving average of $68.03. Agree Realty Co. has a 52 week low of $61.62 and a 52 week high of $77.54. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 2.69 and a beta of 0.36.

Agree Realty (NYSE:ADCGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Agree Realty had a return on equity of 3.94% and a net margin of 35.65%. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, equities analysts forecast that Agree Realty Co. will post 3.89 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.234 dividend. This represents a $2.81 annualized dividend and a yield of 3.65%. The ex-dividend date is Thursday, July 28th. Agree Realty’s dividend payout ratio (DPR) is currently 157.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Agree Realty from $74.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. Jefferies Financial Group boosted their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, June 30th. JMP Securities initiated coverage on shares of Agree Realty in a research report on Tuesday, May 10th. They set an “outperform” rating and a $81.00 price target on the stock. Morgan Stanley upped their price target on shares of Agree Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 12th. Finally, Credit Suisse Group assumed coverage on shares of Agree Realty in a report on Wednesday, June 22nd. They issued an “outperform” rating and a $78.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $77.95.

Agree Realty Company Profile

(Get Rating)

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.

See Also

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Co. (NYSE:ADCGet Rating).

Institutional Ownership by Quarter for Agree Realty (NYSE:ADC)

Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.com's FREE daily email newsletter.