Exchange Traded Concepts LLC Has $3.93 Million 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 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,795 shares of the real estate investment trust’s stock after purchasing an additional 16,768 shares during the period. Exchange Traded Concepts LLC owned about 0.05% of Agree Realty worth $3,931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADC. Versant Capital Management Inc increased its stake in Agree Realty by 230.7% during the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 293 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake 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 valued at $63,000 after purchasing an additional 230 shares in the last quarter. UMB Bank n.a. lifted its position in Agree Realty by 44.5% in the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 299 shares during the period. Arcadia Investment Management Corp MI bought a new position in Agree Realty in the third quarter worth $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Agree Realty during the third quarter worth $77,000. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ADC shares. Royal Bank of Canada reduced their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. BTIG Research lifted their price objective on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Stifel Nicolaus dropped their target price on Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $79.07.

Agree Realty Stock Performance

ADC stock opened at $71.84 on Friday. The stock has a market capitalization of $7.44 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 2.52 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The company has a 50 day moving average price of $72.85 and a 200 day moving average price of $72.86. Agree Realty Co. has a fifty-two week low of $54.28 and a fifty-two week high of $78.39.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.253 dividend. This represents a $3.04 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, January 31st. 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.