HighTower Advisors LLC Has $1.83 Million Stake in Agree Realty Co. (NYSE:ADC)

HighTower Advisors LLC boosted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 108.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,000 shares of the real estate investment trust’s stock after buying an additional 13,528 shares during the period. HighTower Advisors LLC’s holdings in Agree Realty were worth $1,832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADC. FMR LLC boosted its position in shares of Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after acquiring an additional 1,968,811 shares in the last quarter. Raymond James Financial Inc. bought a new position in Agree Realty during the fourth quarter worth about $101,382,000. JPMorgan Chase & Co. boosted its holdings in Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after purchasing an additional 990,362 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Agree Realty by 29.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after purchasing an additional 534,545 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Agree Realty by 92.6% in the 3rd quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock worth $53,815,000 after buying an additional 343,400 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

ADC stock opened at $75.48 on Monday. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market cap of $8.10 billion, a P/E ratio of 42.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The business’s fifty day moving average is $73.32 and its 200-day moving average is $73.90.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Equities research analysts forecast that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty’s payout ratio is 170.22%.

Analyst Ratings Changes

ADC has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price target on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. JMP Securities downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Finally, Evercore ISI initiated coverage on shares of Agree Realty in a research note on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price for the company. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.85.

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.