Agree Realty Corporation (NYSE:ADC) Stock Position Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in Agree Realty Corporation (NYSE:ADC) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,609 shares of the real estate investment trust’s stock after purchasing an additional 504 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Agree Realty were worth $896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADC. Bernard Wealth Management Corp. bought a new stake in shares of Agree Realty during the 4th quarter worth about $31,000. Capital Advisors Ltd. LLC raised its holdings in Agree Realty by 137.8% during the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. Headlands Technologies LLC lifted its position in Agree Realty by 72.8% in the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 235 shares during the period. NBC Securities Inc. bought a new position in Agree Realty during the 1st quarter valued at $39,000. Finally, Quarry LP acquired a new position in shares of Agree Realty during the 4th quarter valued at $52,000. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADC shares. Robert W. Baird upped their price objective on Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Wells Fargo & Company boosted their price target on shares of Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. UBS Group reduced their price objective on shares of Agree Realty from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Truist Financial lifted their price objective on shares of Agree Realty from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.96.

Agree Realty Trading Down 1.0%

Agree Realty stock opened at $72.08 on Thursday. Agree Realty Corporation has a 52 week low of $61.34 and a 52 week high of $79.65. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 40.72, a P/E/G ratio of 2.31 and a beta of 0.54. The company has a 50 day moving average price of $74.84 and a 200 day moving average price of $73.86.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. The business had revenue of $169.16 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same quarter last year, the firm posted $0.43 earnings per share. Research analysts forecast that Agree Realty Corporation will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently disclosed a jun 25 dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.256 per share. The ex-dividend date is Monday, June 30th. This represents a yield of 4.1%. Agree Realty’s payout ratio is presently 173.45%.

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.