First National Bank of Omaha raised its holdings in Agree Realty Co. (NYSE:ADC – Get Rating) by 13.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,561 shares of the real estate investment trust’s stock after purchasing an additional 1,723 shares during the period. First National Bank of Omaha’s holdings in Agree Realty were worth $966,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. North Star Investment Management Corp. bought a new position in Agree Realty during the 1st quarter valued at $33,000. CWM LLC boosted its holdings in shares of Agree Realty by 261.5% in the first quarter. CWM LLC now owns 564 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 408 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Agree Realty during the first quarter worth approximately $38,000. Archer Investment Corp acquired a new stake in shares of Agree Realty during the first quarter worth approximately $60,000. Finally, UMB Bank N A MO lifted its stake in Agree Realty by 56.0% in the first quarter. UMB Bank N A MO now owns 1,081 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 388 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Agree Realty from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Raymond James upped their price target on Agree Realty from $76.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 8th. Truist Financial increased their price objective on Agree Realty from $77.00 to $84.00 and gave the company a “buy” rating in a report on Monday, August 22nd. JMP Securities increased their price objective on Agree Realty from $81.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 3rd. Finally, Citigroup raised their price target on Agree Realty to $80.00 in a research report on Monday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.86.
Agree Realty Trading Down 1.9 %
Agree Realty (NYSE:ADC – Get Rating) last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Agree Realty had a return on equity of 4.38% and a net margin of 37.13%. During the same quarter last year, the company earned $0.89 earnings per share. On average, equities analysts forecast that Agree Realty Co. will post 3.88 EPS for the current year.
Agree Realty Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.234 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Thursday, September 29th. Agree Realty’s payout ratio is currently 148.68%.
Agree Realty Profile
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.
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