Leeward Investments LLC MA Has $33.35 Million Holdings in Agree Realty Co. (NYSE:ADC)

Leeward Investments LLC MA decreased its holdings in shares of Agree Realty Co. (NYSE:ADC) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 473,384 shares of the real estate investment trust’s stock after selling 27,787 shares during the quarter. Agree Realty comprises approximately 1.7% of Leeward Investments LLC MA’s holdings, making the stock its 5th largest position. Leeward Investments LLC MA owned about 0.46% of Agree Realty worth $33,350,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADC. Blue Trust Inc. boosted its stake in Agree Realty by 18.6% during the 3rd quarter. Blue Trust Inc. now owns 3,123 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 489 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Agree Realty by 15.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,421 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 592 shares during the period. Private Advisor Group LLC lifted its position in shares of Agree Realty by 11.4% in the 3rd quarter. Private Advisor Group LLC now owns 4,739 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 485 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Agree Realty by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,906 shares of the real estate investment trust’s stock worth $292,000 after acquiring an additional 1,008 shares during the period. Finally, Pathway Financial Advisers LLC lifted its position in shares of Agree Realty by 9,118.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock worth $92,487,000 after acquiring an additional 1,214,437 shares during the period. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ADC shares. Barclays reduced their price objective on Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Mizuho reduced their price objective on Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and a consensus price target of $79.62.

Agree Realty Trading Up 1.9 %

ADC stock opened at $72.73 on Friday. The business has a fifty day moving average price of $71.43 and a 200 day moving average price of $73.51. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 2.82 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

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

Agree Realty Announces Dividend

The firm also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 4.2%. Agree Realty’s dividend payout ratio 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.