Loomis Sayles & Co. L P Grows Holdings in Agree Realty Co. (NYSE:ADC)

Loomis Sayles & Co. L P raised its position in Agree Realty Co. (NYSE:ADC) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 323,852 shares of the real estate investment trust’s stock after buying an additional 5,021 shares during the period. Loomis Sayles & Co. L P owned 0.31% of Agree Realty worth $22,815,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 293 shares during the period. Financial Life Planners purchased a new position in Agree Realty in the fourth quarter valued at approximately $44,000. MassMutual Private Wealth & Trust FSB increased its position in Agree Realty by 34.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 230 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Agree Realty in the third quarter worth $77,000. Finally, UMB Bank n.a. raised its stake in shares of Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 168 shares during the period. Institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

ADC opened at $76.56 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $8.22 billion, a P/E ratio of 43.01, a PEG ratio of 2.88 and a beta of 0.64. The stock has a 50-day moving average price of $73.80 and a 200-day moving average price of $73.94. Agree Realty Co. has a 12-month low of $54.78 and a 12-month high of $78.39.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping 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 analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm 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 3.97%. The ex-dividend date is Monday, March 31st. Agree Realty’s dividend payout ratio is currently 170.22%.

Analyst Ratings Changes

ADC has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. JMP Securities downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target on the stock. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, Barclays upgraded Agree Realty from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $74.00 to $75.00 in a research report on Tuesday, March 4th. Five equities 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.85.

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.