Corient Private Wealth LLC Acquires 787 Shares of Agree Realty Co. (NYSE:ADC)

Corient Private Wealth LLC increased its holdings in shares of Agree Realty Co. (NYSE:ADCFree Report) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,645 shares of the real estate investment trust’s stock after purchasing an additional 787 shares during the quarter. Corient Private Wealth LLC’s holdings in Agree Realty were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Coldstream Capital Management Inc. bought a new position in shares of Agree Realty during the fourth quarter valued at $305,000. PNC Financial Services Group Inc. increased its position in Agree Realty by 15.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,905 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 1,338 shares during the last quarter. Norges Bank purchased a new stake in Agree Realty during the fourth quarter valued at $71,409,000. Securian Asset Management Inc. increased its position in Agree Realty by 4.0% during the fourth quarter. Securian Asset Management Inc. now owns 8,483 shares of the real estate investment trust’s stock valued at $534,000 after acquiring an additional 330 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Agree Realty by 35.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,079 shares of the real estate investment trust’s stock valued at $257,000 after acquiring an additional 1,074 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Insider Transactions at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $58.99 per share, with a total value of $58,990.00. Following the completion of the purchase, the director now directly owns 23,036 shares in the company, valued at approximately $1,358,893.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial reduced their price objective on Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Royal Bank of Canada reduced their price objective on Agree Realty from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Stifel Nicolaus reduced their price objective on Agree Realty from $70.00 to $69.50 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Wells Fargo & Company reduced their price objective on Agree Realty from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Finally, UBS Group initiated coverage on Agree Realty in a research report on Friday, May 31st. They issued a “neutral” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Agree Realty has an average rating of “Hold” and an average target price of $65.25.

Check Out Our Latest Stock Analysis on ADC

Agree Realty Stock Performance

NYSE ADC opened at $61.96 on Friday. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 2.43 and a beta of 0.56. 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 business has a 50-day moving average price of $58.45 and a 200-day moving average price of $58.96. Agree Realty Co. has a twelve month low of $52.69 and a twelve month high of $69.26.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Friday, May 31st. Agree Realty’s dividend payout ratio (DPR) is 176.47%.

Agree Realty Profile

(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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