Cwm LLC Has $139,000 Position in Agree Realty Co. (NYSE:ADC)

Cwm LLC increased its holdings in shares of Agree Realty Co. (NYSE:ADC) by 202.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,202 shares of the real estate investment trust’s stock after acquiring an additional 1,474 shares during the quarter. Cwm LLC’s holdings in Agree Realty were worth $139,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ADC. HBC Financial Services PLLC bought a new stake in shares of Agree Realty in the fourth quarter valued at approximately $31,000. Lindbrook Capital LLC boosted 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 valued at $37,000 after purchasing an additional 430 shares during the period. Jamison Private Wealth Management Inc. grew its position 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 worth $47,000 after purchasing an additional 364 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Agree Realty by 42.0% during the 4th quarter. Blue Trust Inc. now owns 1,255 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 371 shares during the period. Finally, Private Trust Co. NA raised its position in shares of Agree Realty by 150.8% during the fourth quarter. Private Trust Co. NA now owns 1,590 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 956 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Agree Realty from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada cut their target price on Agree Realty from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Truist Financial lowered their price target on shares of Agree Realty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. JMP Securities raised shares of Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a report on Monday, January 22nd. Finally, StockNews.com lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.61.

Insider Activity at Agree Realty

In other Agree Realty news, Chairman Richard Agree acquired 16,000 shares of Agree Realty stock in a transaction 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 completion of the purchase, the chairman now owns 135,855 shares in the company, valued at $7,539,952.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Richard Agree acquired 16,000 shares of the stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $55.50 per share, for a total transaction of $888,000.00. Following the transaction, the chairman now owns 135,855 shares of the company’s stock, valued at approximately $7,539,952.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director John Rakolta, Jr. bought 20,430 shares of Agree Realty stock in a transaction dated Friday, February 16th. The shares were bought at an average price of $57.00 per share, for a total transaction of $1,164,510.00. Following the completion of the transaction, the director now directly owns 392,549 shares of the company’s stock, valued at approximately $22,375,293. The disclosure for this purchase can be found here. Insiders acquired 42,482 shares of company stock valued at $2,397,572 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Price Performance

NYSE:ADC opened at $58.78 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.50. The firm has a market cap of $5.92 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.70 and a beta of 0.52. Agree Realty Co. has a 12 month low of $52.69 and a 12 month high of $69.26. The company’s 50-day moving average price is $56.72 and its two-hundred day moving average price is $58.40.

Agree Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, April 29th. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. This represents a $3.00 dividend on an annualized basis and a yield of 5.10%. Agree Realty’s dividend payout ratio is 176.47%.

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.