Atomi Financial Group Inc. Acquires Shares of 3,407 Agree Realty Co. (NYSE:ADC)

Atomi Financial Group Inc. acquired a new stake in Agree Realty Co. (NYSE:ADC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,407 shares of the real estate investment trust’s stock, valued at approximately $240,000.

Several other institutional investors also recently bought and sold shares of ADC. Sei Investments Co. increased its stake in Agree Realty by 64.9% in the 2nd quarter. Sei Investments Co. now owns 56,829 shares of the real estate investment trust’s stock valued at $3,520,000 after buying an additional 22,374 shares during the period. AQR Capital Management LLC increased its stake in Agree Realty by 67.4% in the 2nd quarter. AQR Capital Management LLC now owns 462,868 shares of the real estate investment trust’s stock valued at $28,476,000 after buying an additional 186,285 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Agree Realty by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,674 shares of the real estate investment trust’s stock worth $6,422,000 after purchasing an additional 382 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in shares of Agree Realty during the 2nd quarter worth $372,000. Finally, Algert Global LLC acquired a new position in shares of Agree Realty during the 2nd quarter worth $628,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Evercore ISI assumed coverage on shares of Agree Realty in a research note on Thursday, December 12th. They set an “outperform” rating and a $82.00 price target on the stock. Finally, KeyCorp upped their price target on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.07.

Agree Realty Price Performance

NYSE:ADC opened at $71.84 on Monday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 2.52 and a beta of 0.64. Agree Realty Co. has a 12-month low of $54.28 and a 12-month high of $78.39. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average is $72.85 and its two-hundred day moving average is $72.93.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.253 per share. The ex-dividend date is Friday, January 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.23%. Agree Realty’s payout ratio is currently 167.96%.

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.