Yousif Capital Management LLC Acquires 2,117 Shares of Agree Realty Co. (NYSE:ADC)

Yousif Capital Management LLC boosted its holdings in Agree Realty Co. (NYSE:ADC) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,809 shares of the real estate investment trust’s stock after buying an additional 2,117 shares during the quarter. Yousif Capital Management LLC’s holdings in Agree Realty were worth $2,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HBC Financial Services PLLC bought a new position in Agree Realty in the 4th quarter valued at approximately $31,000. Lindbrook Capital LLC increased its holdings in Agree Realty by 267.1% in the 4th quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 430 shares in the last quarter. CWM LLC raised its position in Agree Realty by 117.3% in the third quarter. CWM LLC now owns 728 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 393 shares during the last quarter. Jamison Private Wealth Management Inc. raised its holdings in Agree Realty by 96.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 364 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Agree Realty during the 4th quarter worth approximately $44,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Down 0.5 %

Shares of NYSE:ADC opened at $57.77 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.74 and a current ratio of 0.71. Agree Realty Co. has a 52-week low of $52.69 and a 52-week high of $69.26. The business’s 50 day simple moving average is $56.63 and its two-hundred day simple moving average is $58.31. The firm has a market cap of $5.81 billion, a P/E ratio of 33.98, a PEG ratio of 2.65 and a beta of 0.52.

Agree Realty Increases Dividend

The firm also recently disclosed 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 represents a $3.00 dividend on an annualized basis and a dividend yield of 5.19%. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date is Monday, April 29th. Agree Realty’s dividend payout ratio (DPR) is 176.47%.

Insider Activity

In related news, CEO Joey Agree acquired 2,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $57.56 per share, with a total value of $115,120.00. Following the acquisition, the chief executive officer now owns 557,903 shares of the company’s stock, valued at approximately $32,112,896.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Joey Agree acquired 2,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the purchase, the chief executive officer now owns 557,903 shares in the company, valued at $32,112,896.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard Agree purchased 16,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 135,855 shares of the company’s stock, valued at $7,539,952.50. The disclosure for this purchase can be found here. Insiders acquired 42,482 shares of company stock worth $2,397,572 over the last three months. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho reduced their price objective on shares of Agree Realty from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Truist Financial reduced their target price on Agree Realty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Royal Bank of Canada decreased their price objective on shares of Agree Realty from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. JMP Securities upgraded shares of Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 target price on the stock in a report on Monday, January 22nd. Finally, BMO Capital Markets started coverage on Agree Realty in a research report on Tuesday, February 13th. They set an “outperform” rating and a $69.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and an average target price of $65.61.

About Agree Realty

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.