Lindbrook Capital LLC boosted its holdings in Agree Realty Co. (NYSE:ADC – Free Report) by 267.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 591 shares of the real estate investment trust’s stock after purchasing an additional 430 shares during the quarter. Lindbrook Capital LLC’s holdings in Agree Realty were worth $37,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in ADC. HTLF Bank purchased a new position in shares of Agree Realty in the fourth quarter worth $452,000. Xponance Inc. boosted its holdings in shares of Agree Realty by 6.9% during the 4th quarter. Xponance Inc. now owns 12,053 shares of the real estate investment trust’s stock valued at $759,000 after purchasing an additional 773 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Agree Realty by 1.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,177,543 shares of the real estate investment trust’s stock valued at $74,127,000 after buying an additional 21,254 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Agree Realty by 1.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,749 shares of the real estate investment trust’s stock valued at $5,650,000 after buying an additional 1,714 shares in the last quarter. Finally, Strs Ohio increased its stake in Agree Realty by 9.1% in the 4th quarter. Strs Ohio now owns 350,443 shares of the real estate investment trust’s stock worth $22,060,000 after acquiring an additional 29,096 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Agree Realty
In related news, Chairman Richard Agree purchased 16,000 shares of Agree Realty stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $55.50 per share, with a total value of $888,000.00. Following the purchase, the chairman now directly owns 135,855 shares of the company’s stock, valued at approximately $7,539,952.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Joey Agree bought 2,000 shares of the stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the acquisition, the chief executive officer now owns 557,903 shares of the company’s stock, valued at $32,112,896.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard Agree purchased 16,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $55.50 per share, for a total transaction of $888,000.00. Following the transaction, the chairman now directly owns 135,855 shares in the company, valued at approximately $7,539,952.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 42,482 shares of company stock worth $2,397,572. 1.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on ADC
Agree Realty Trading Down 0.5 %
ADC opened at $57.75 on Friday. Agree Realty Co. has a one year low of $52.69 and a one year high of $69.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.74 and a current ratio of 0.71. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 2.68 and a beta of 0.52. The stock’s 50 day moving average price is $56.63 and its 200-day moving average price is $58.26.
Agree Realty Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a $0.25 dividend. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a yield of 5.19%. Agree Realty’s dividend payout ratio (DPR) is presently 174.12%.
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.
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