William Blair Investment Management LLC Has $48.72 Million Stock Holdings in Agree Realty Co. (NYSE:ADC)

William Blair Investment Management LLC grew its position in Agree Realty Co. (NYSE:ADC) by 0.0% during the 4th quarter, HoldingsChannel reports. The firm owned 691,517 shares of the real estate investment trust’s stock after purchasing an additional 180 shares during the quarter. William Blair Investment Management LLC’s holdings in Agree Realty were worth $48,717,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Agree Realty by 729.3% during the third quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after acquiring an additional 1,968,811 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Agree Realty during the fourth quarter worth $101,382,000. JPMorgan Chase & Co. raised its holdings in shares of 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 worth $274,693,000 after acquiring an additional 990,362 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after acquiring an additional 534,545 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Agree Realty by 92.6% during the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock worth $53,815,000 after acquiring an additional 343,400 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price objective on the stock. Barclays upgraded shares of Agree Realty from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on shares of Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.85.

Agree Realty Stock Performance

Shares of ADC opened at $77.14 on Tuesday. The firm has a 50-day moving average of $72.78 and a 200-day moving average of $73.83. Agree Realty Co. has a one year low of $54.78 and a one year high of $78.39. The company has a market cap of $8.27 billion, a PE ratio of 43.34, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. 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 announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating 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%. As a group, equities analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Monday, March 31st. Agree Realty’s payout ratio is 170.22%.

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.