Hennion & Walsh Asset Management Inc. Lowers Stock Position in Agree Realty Co. (NYSE:ADC)

Hennion & Walsh Asset Management Inc. lessened its holdings in Agree Realty Co. (NYSE:ADCFree Report) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,397 shares of the real estate investment trust’s stock after selling 289 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Agree Realty were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc purchased a new stake in shares of Agree Realty during the 4th quarter worth approximately $7,554,000. Norges Bank purchased a new stake in shares of Agree Realty during the 4th quarter worth approximately $71,409,000. Daiwa Securities Group Inc. boosted its stake in shares of Agree Realty by 1.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,177,543 shares of the real estate investment trust’s stock worth $74,127,000 after acquiring an additional 21,254 shares in the last quarter. Scout Investments Inc. boosted its stake in shares of Agree Realty by 34.1% during the 4th quarter. Scout Investments Inc. now owns 844,367 shares of the real estate investment trust’s stock worth $53,153,000 after acquiring an additional 214,840 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Agree Realty by 14.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 225,129 shares of the real estate investment trust’s stock worth $14,289,000 after acquiring an additional 28,438 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ADC shares. UBS Group started coverage on Agree Realty in a research note on Friday, May 31st. They set a “neutral” rating and a $60.00 price target on the stock. KeyCorp began coverage on Agree Realty in a research note on Wednesday, June 12th. They set an “overweight” rating and a $68.00 price target on the stock. Mizuho upped their target price on Agree Realty from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Finally, StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Get Our Latest Stock Report on Agree Realty

Agree Realty Trading Up 0.1 %

Shares of ADC opened at $61.90 on Friday. The stock has a fifty day moving average of $60.29 and a two-hundred day moving average of $59.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $6.23 billion, a PE ratio of 36.41, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $69.26.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.00 annualized dividend and a yield of 4.85%. Agree Realty’s dividend payout ratio (DPR) is presently 176.47%.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $58.99 per share, for a total transaction of $58,990.00. Following the acquisition, the director now owns 23,036 shares of the company’s stock, valued at approximately $1,358,893.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

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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