Moran Wealth Management LLC Sells 159 Shares of Agree Realty Co. (NYSE:ADC)

Moran Wealth Management LLC decreased its position in shares of Agree Realty Co. (NYSE:ADC) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,454 shares of the real estate investment trust’s stock after selling 159 shares during the period. Moran Wealth Management LLC’s holdings in Agree Realty were worth $1,371,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in shares of Agree Realty by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 153 shares during the period. Carmel Capital Partners LLC increased its stake in Agree Realty by 2.5% in the 4th quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock worth $486,000 after buying an additional 167 shares in the last quarter. UMB Bank n.a. increased its stake in Agree Realty by 17.3% in the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 168 shares in the last quarter. Private Advisor Group LLC raised its holdings in Agree Realty by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 170 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Agree Realty by 0.8% in the fourth quarter. Arizona State Retirement System now owns 29,204 shares of the real estate investment trust’s stock valued at $2,057,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Down 1.3 %

ADC opened at $75.87 on Wednesday. Agree Realty Co. has a 12 month low of $54.78 and a 12 month high of $78.39. 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 50-day moving average of $72.30 and a 200 day moving average of $73.73. The firm has a market cap of $8.14 billion, a P/E ratio of 42.62, a P/E/G ratio of 2.88 and a beta of 0.64.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share 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%. As a group, research analysts forecast that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.253 dividend. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty’s dividend payout ratio is currently 170.22%.

Wall Street Analyst Weigh In

ADC has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays raised shares of Agree Realty from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. JMP Securities downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. BTIG Research raised their target price on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.