Agree Realty Co. (NYSE:ADC) Holdings Boosted by Sei Investments Co.

Sei Investments Co. grew its holdings in Agree Realty Co. (NYSE:ADC) by 91.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 454,253 shares of the real estate investment trust’s stock after purchasing an additional 216,852 shares during the period. Sei Investments Co.’s holdings in Agree Realty were worth $32,002,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its position in 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 acquiring an additional 293 shares during the period. Financial Life Planners acquired a new position in shares of Agree Realty in the 4th quarter valued at about $44,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 purchasing an additional 230 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Agree Realty during the third quarter valued at approximately $77,000. Finally, 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 valued at $80,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Down 0.8 %

Agree Realty stock opened at $75.09 on Wednesday. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 42.19, a P/E/G ratio of 2.88 and a beta of 0.64. The firm has a fifty day moving average price of $73.53 and a two-hundred day moving average price of $73.91. Agree Realty Co. has a fifty-two week low of $54.78 and a fifty-two week high of $78.39. 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 (NYSE:ADC) last announced 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, analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, March 31st. Agree Realty’s dividend payout ratio (DPR) is currently 170.22%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and upped their target price for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price target for the company. Finally, Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.