Exchange Traded Concepts LLC Has $3.93 Million Stock Holdings in Agree Realty Co. (NYSE:ADC)

Exchange Traded Concepts LLC grew its stake in Agree Realty Co. (NYSE:ADC) by 43.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 55,795 shares of the real estate investment trust’s stock after buying an additional 16,768 shares during the period. Exchange Traded Concepts LLC’s holdings in Agree Realty were worth $3,931,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in Agree Realty by 45.6% in the second quarter. Pacer Advisors Inc. now owns 21,801 shares of the real estate investment trust’s stock valued at $1,350,000 after buying an additional 6,824 shares during the period. Sei Investments Co. raised its position in shares of Agree Realty by 64.9% in the 2nd quarter. Sei Investments Co. now owns 56,829 shares of the real estate investment trust’s stock valued at $3,520,000 after acquiring an additional 22,374 shares during the period. Evergreen Capital Management LLC bought a new position in Agree Realty during the 2nd quarter worth approximately $234,000. AQR Capital Management LLC grew its holdings in Agree Realty by 67.4% during the second quarter. AQR Capital Management LLC now owns 462,868 shares of the real estate investment trust’s stock valued at $28,476,000 after purchasing an additional 186,285 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Agree Realty by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 103,674 shares of the real estate investment trust’s stock valued at $6,422,000 after purchasing an additional 382 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADC shares. Truist Financial lifted their target price on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada decreased their price objective on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.07.

Agree Realty Trading Up 0.5 %

Agree Realty stock opened at $71.84 on Friday. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 2.52 and a beta of 0.64. The firm has a 50-day moving average of $72.85 and a 200-day moving average of $72.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39.

Agree Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.253 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.04 dividend on an annualized basis and a yield of 4.23%. Agree Realty’s dividend payout ratio is 167.96%.

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.