Creative Financial Designs Inc. ADV Boosts Position in Agree Realty Co. (NYSE:ADC)

Creative Financial Designs Inc. ADV lifted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 44.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,101 shares of the real estate investment trust’s stock after purchasing an additional 950 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Agree Realty were worth $218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its position in Agree Realty by 729.3% in the third 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. Raymond James Financial Inc. bought a new position in shares of Agree Realty during the fourth quarter valued at approximately $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 valued at $274,693,000 after acquiring an additional 990,362 shares in the last quarter. 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 valued at $177,030,000 after acquiring an additional 534,545 shares in the last quarter. 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 valued at $53,815,000 after acquiring an additional 343,400 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Down 1.4 %

Agree Realty stock opened at $75.96 on Thursday. 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 Co. has a one year low of $54.78 and a one year high of $78.39. The stock has a market capitalization of $8.15 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The business’s fifty day moving average is $73.05 and its 200 day moving average is $73.87.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating 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%. On average, sell-side analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Monday, March 31st. Agree Realty’s dividend payout ratio is 170.22%.

Wall Street Analysts Forecast Growth

ADC has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus reduced their price target on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.