Citizens National Bank Trust Department Sells 645 Shares of Agree Realty Co. (NYSE:ADC)

Citizens National Bank Trust Department lessened its holdings in shares of Agree Realty Co. (NYSE:ADC) by 3.9% during the 4th quarter, Holdings Channel reports. The firm owned 15,898 shares of the real estate investment trust’s stock after selling 645 shares during the period. Citizens National Bank Trust Department’s holdings in Agree Realty were worth $1,120,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of Agree Realty by 8.5% during the third quarter. CWM LLC now owns 3,458 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 271 shares during the last quarter. Creative Planning increased its holdings in Agree Realty by 7.8% in the 3rd quarter. Creative Planning now owns 61,267 shares of the real estate investment trust’s stock valued at $4,615,000 after acquiring an additional 4,448 shares during the last quarter. Blue Trust Inc. lifted its stake in Agree Realty by 18.6% in the 3rd quarter. Blue Trust Inc. now owns 3,123 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 489 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Agree Realty by 15.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,421 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 592 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Agree Realty by 3.6% during the third quarter. Signaturefd LLC now owns 9,240 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 325 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADC has been the topic of a number of research analyst reports. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Barclays decreased their price objective on Agree Realty from $76.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Mizuho cut their target price on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price target on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, BTIG Research lifted their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $79.62.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $71.31 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty Co. has a 12 month low of $54.28 and a 12 month high of $78.39. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 2.81 and a beta of 0.65. The firm’s 50-day moving average is $71.51 and its 200 day moving average is $73.50.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Research analysts predict that Agree Realty Co. will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.253 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 4.2%. Agree Realty’s payout ratio is 170.79%.

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.