Agree Realty Co. (NYSE:ADC) Stake Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in shares of Agree Realty Co. (NYSE:ADCFree Report) by 23.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,955 shares of the real estate investment trust’s stock after selling 17,652 shares during the period. Hsbc Holdings PLC owned 0.06% of Agree Realty worth $3,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADC. Norges Bank bought a new stake in Agree Realty during the fourth quarter worth approximately $71,409,000. Principal Financial Group Inc. raised its holdings in Agree Realty by 12.1% during the fourth quarter. Principal Financial Group Inc. now owns 6,660,665 shares of the real estate investment trust’s stock worth $419,289,000 after purchasing an additional 719,430 shares in the last quarter. Vanguard Group Inc. raised its holdings in Agree Realty by 3.4% during the third quarter. Vanguard Group Inc. now owns 13,759,418 shares of the real estate investment trust’s stock worth $760,070,000 after purchasing an additional 452,798 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in Agree Realty by 2,442.7% during the third quarter. Jupiter Asset Management Ltd. now owns 467,555 shares of the real estate investment trust’s stock worth $25,828,000 after purchasing an additional 449,167 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new stake in Agree Realty during the fourth quarter worth approximately $16,863,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Up 0.2 %

NYSE ADC opened at $61.58 on Thursday. The firm’s 50 day moving average price is $58.35 and its two-hundred day moving average price is $58.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.71 and a current ratio of 0.71. Agree Realty Co. has a twelve month low of $52.69 and a twelve month high of $69.26. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 2.41 and a beta of 0.56.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Friday, May 31st. Agree Realty’s dividend payout ratio is currently 176.47%.

Insider Activity

In related news, Director Greg Lehmkuhl purchased 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $58.99 per share, for a total transaction of $58,990.00. Following the acquisition, the director now directly owns 23,036 shares in the company, valued at approximately $1,358,893.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADC has been the topic of several research reports. UBS Group initiated coverage on Agree Realty in a report on Friday, May 31st. They issued a “neutral” rating and a $60.00 price target on the stock. Wells Fargo & Company dropped their price target on Agree Realty from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. StockNews.com cut Agree Realty from a “hold” rating to a “sell” rating in a report on Monday. Stifel Nicolaus dropped their price target on Agree Realty from $70.00 to $69.50 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Finally, Mizuho upped their price target on Agree Realty from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Agree Realty has a consensus rating of “Hold” and a consensus price target of $65.25.

Check Out Our Latest Report on Agree Realty

About Agree Realty

(Free Report)

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

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