Community Bank of Raymore Has $3.10 Million Position in Agree Realty Co. (NYSE:ADC)

Community Bank of Raymore grew its position in Agree Realty Co. (NYSE:ADC) by 6.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,005 shares of the real estate investment trust’s stock after buying an additional 2,605 shares during the quarter. Agree Realty accounts for about 2.4% of Community Bank of Raymore’s portfolio, making the stock its 14th largest holding. Community Bank of Raymore’s holdings in Agree Realty were worth $3,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of 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 valued at $274,693,000 after purchasing an additional 990,362 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Agree Realty by 29.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after purchasing an additional 534,545 shares during the last quarter. FMR LLC grew its holdings in shares of Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after purchasing an additional 1,968,811 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Agree Realty by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock valued at $156,327,000 after purchasing an additional 30,377 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Agree Realty by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust’s stock valued at $119,651,000 after purchasing an additional 57,354 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Up 0.4 %

Agree Realty stock opened at $72.46 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a 12-month low of $54.28 and a 12-month high of $78.39. The firm’s fifty day moving average is $73.25 and its 200 day moving average is $72.57. The company has a market capitalization of $7.50 billion, a PE ratio of 40.03, a PEG ratio of 2.41 and a beta of 0.64.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The company had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same quarter in the previous year, the firm earned $1.00 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.253 per share. The ex-dividend date is Friday, January 31st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.19%. Agree Realty’s payout ratio is presently 167.40%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADC. Evercore ISI started coverage on shares of Agree Realty in a report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price target on the stock. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Truist Financial boosted their target price on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

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.