Corient Private Wealth LLC Buys 2,284 Shares of Agree Realty Co. (NYSE:ADC)

Corient Private Wealth LLC grew its position in Agree Realty Co. (NYSE:ADC) by 69.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,551 shares of the real estate investment trust’s stock after buying an additional 2,284 shares during the quarter. Corient Private Wealth LLC’s holdings in Agree Realty were worth $391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in shares of Agree Realty in the fourth quarter worth about $411,000. abrdn plc grew its position in shares of Agree Realty by 33.7% in the fourth quarter. abrdn plc now owns 27,497 shares of the real estate investment trust’s stock valued at $1,922,000 after purchasing an additional 6,924 shares during the period. JPMorgan Chase & Co. increased its stake in Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after buying an additional 990,362 shares in the last quarter. Sage Investment Counsel LLC acquired a new position in Agree Realty in the 4th quarter valued at $329,000. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Agree Realty by 24.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,129 shares of the real estate investment trust’s stock valued at $1,348,000 after buying an additional 3,776 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADC has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Finally, Stifel Nicolaus reduced their price objective on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.85.

Agree Realty Stock Performance

NYSE ADC opened at $76.56 on Monday. The business’s 50-day moving average price is $73.80 and its 200 day moving average price is $73.90. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a twelve month low of $54.78 and a twelve month high of $78.39. The company has a market capitalization of $8.22 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. On average, research analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.253 per share. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. Agree Realty’s dividend payout ratio (DPR) is 170.22%.

Agree Realty 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.