Securian Asset Management Inc. Purchases 322 Shares of Agree Realty Corporation (NYSE:ADC)

Securian Asset Management Inc. grew its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 4.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,129 shares of the real estate investment trust’s stock after purchasing an additional 322 shares during the quarter. Securian Asset Management Inc.’s holdings in Agree Realty were worth $627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in Agree Realty in the 4th quarter worth $1,459,000. HighTower Advisors LLC grew its position in Agree Realty by 108.5% during the fourth quarter. HighTower Advisors LLC now owns 26,000 shares of the real estate investment trust’s stock valued at $1,832,000 after buying an additional 13,528 shares during the period. Sequoia Financial Advisors LLC increased its position in Agree Realty by 3.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 169 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Agree Realty by 857.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 1,080 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in shares of Agree Realty by 12.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,293 shares of the real estate investment trust’s stock worth $514,000 after purchasing an additional 786 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADC shares. Mizuho lowered their price target on shares of Agree Realty from $81.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, June 16th. Barclays set a $77.00 price objective on shares of Agree Realty and gave the stock an “equal weight” rating in a research report on Wednesday, May 21st. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research note on Monday, June 30th. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Finally, Evercore ISI lifted their price target on Agree Realty from $82.00 to $83.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.25.

Agree Realty Stock Down 0.4%

ADC stock opened at $71.92 on Friday. Agree Realty Corporation has a 12 month low of $65.98 and a 12 month high of $79.65. The firm has a market cap of $7.91 billion, a PE ratio of 40.64, a P/E/G ratio of 2.34 and a beta of 0.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $73.89 and a 200 day simple moving average of $73.94.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. The firm had revenue of $169.16 million during the quarter, compared to analyst estimates of $167.77 million. During the same period last year, the company earned $0.43 earnings per share. Equities research analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.256 per share. This represents a $3.07 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Thursday, July 31st. Agree Realty’s dividend payout ratio is presently 173.45%.

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.