Agree Realty Co. (NYSE:ADC) Shares Acquired by KBC Group NV

KBC Group NV lifted its position in Agree Realty Co. (NYSE:ADC) by 1,670.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,561 shares of the real estate investment trust’s stock after purchasing an additional 41,101 shares during the quarter. KBC Group NV’s holdings in Agree Realty were worth $3,069,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Agree Realty by 230.7% in 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 boosted its stake in Agree Realty by 34.4% during the 4th 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 during the period. UMB Bank n.a. grew its position in Agree Realty by 44.5% during the 3rd 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 last quarter. Arcadia Investment Management Corp MI acquired a new position in Agree Realty in the third quarter valued at $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Agree Realty in the third quarter valued at about $77,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Stock Performance

NYSE ADC opened at $72.60 on Friday. The business has a 50 day moving average price of $72.45 and a 200 day moving average price of $73.11. 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 market capitalization of $7.52 billion, a P/E ratio of 40.11, a PEG ratio of 2.54 and a beta of 0.64. Agree Realty Co. has a 1-year low of $54.28 and a 1-year high of $78.39.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.253 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.18%. Agree Realty’s dividend payout ratio is presently 167.96%.

Analyst Upgrades and Downgrades

ADC has been the topic of several recent research reports. Truist Financial boosted their price target on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com lowered Agree Realty from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company decreased their price target on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $79.00 target price on shares of Agree Realty in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.07.

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.