Community Bank of Raymore Lowers Stock Holdings in Agree Realty Co. (NYSE:ADC)

Community Bank of Raymore reduced its stake in Agree Realty Co. (NYSE:ADC) by 17.3% during the 1st quarter, HoldingsChannel reports. The firm owned 65,690 shares of the real estate investment trust’s stock after selling 13,760 shares during the period. Agree Realty accounts for 1.8% of Community Bank of Raymore’s portfolio, making the stock its 17th biggest position. Community Bank of Raymore’s holdings in Agree Realty were worth $3,752,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HBC Financial Services PLLC purchased a new position in shares of Agree Realty in the 4th quarter valued at approximately $31,000. Lindbrook Capital LLC grew its stake in shares of Agree Realty by 267.1% in the 4th quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 430 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Agree Realty in the 4th quarter valued at approximately $44,000. Jamison Private Wealth Management Inc. boosted its stake in shares of Agree Realty by 96.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 364 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Agree Realty in the fourth quarter valued at approximately $63,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Agree Realty

In other news, Director Greg Lehmkuhl acquired 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $58.99 per share, for a total transaction of $58,990.00. Following the completion of the purchase, the director now directly owns 23,036 shares of the company’s stock, valued at approximately $1,358,893.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ADC shares. UBS Group started coverage on Agree Realty in a research note on Friday, May 31st. They issued a “neutral” rating and a $60.00 price target on the stock. Mizuho boosted their price target on Agree Realty from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. KeyCorp assumed coverage on Agree Realty in a report on Wednesday, June 12th. They issued an “overweight” rating and a $68.00 price target for the company. Finally, Truist Financial cut their price target on Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

Agree Realty Stock Down 0.6 %

Shares of NYSE:ADC traded down $0.34 during trading on Wednesday, hitting $60.49. The company’s stock had a trading volume of 44,746 shares, compared to its average volume of 939,250. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.71 and a current ratio of 0.71. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $69.26. The stock’s 50-day moving average price is $59.62 and its two-hundred day moving average price is $59.15. The company has a market capitalization of $6.09 billion, a PE ratio of 35.78, a PEG ratio of 2.44 and a beta of 0.56.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, June 28th. Agree Realty’s dividend payout ratio (DPR) is 176.47%.

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.