KBC Group NV Sells 39,229 Shares of Agree Realty Corporation (NYSE:ADC)

KBC Group NV cut its stake in shares of Agree Realty Corporation (NYSE:ADC) by 90.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,332 shares of the real estate investment trust’s stock after selling 39,229 shares during the period. KBC Group NV’s holdings in Agree Realty were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ADC. Allspring Global Investments Holdings LLC increased its position in shares of Agree Realty by 12.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 788,752 shares of the real estate investment trust’s stock valued at $60,608,000 after purchasing an additional 90,408 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in Agree Realty by 1.0% during the first quarter. Transcend Capital Advisors LLC now owns 24,934 shares of the real estate investment trust’s stock worth $1,925,000 after buying an additional 237 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Agree Realty by 24.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 3,844 shares of the real estate investment trust’s stock worth $297,000 after acquiring an additional 743 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Agree Realty by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 139 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Agree Realty by 6.6% in the first quarter. Asset Management One Co. Ltd. now owns 214,844 shares of the real estate investment trust’s stock valued at $16,584,000 after acquiring an additional 13,242 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Stock Up 2.5%

NYSE ADC opened at $73.90 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.54. Agree Realty Corporation has a 52 week low of $61.34 and a 52 week high of $79.65. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 41.75, a PEG ratio of 2.29 and a beta of 0.54. The company has a fifty day moving average of $74.75 and a two-hundred day moving average of $73.88.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The company had revenue of $169.16 million during the quarter, compared to analyst estimates of $167.77 million. Agree Realty had a net margin of 30.05% and a return on equity of 3.66%. During the same quarter last year, the business posted $0.43 EPS. On average, analysts predict that Agree Realty Corporation will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ADC shares. UBS Group lowered their price objective on Agree Realty from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Mizuho lowered their price target on shares of Agree Realty from $81.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, June 16th. Stifel Nicolaus upped their price target on shares of Agree Realty from $81.00 to $82.50 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. BTIG Research lowered shares of Agree Realty from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 7th. Finally, Truist Financial boosted their target price on shares of Agree Realty from $77.00 to $82.00 and gave the company a “buy” rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.96.

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.