BNP Paribas Financial Markets Has $4.42 Million Position in Agree Realty Co. (NYSE:ADC)

BNP Paribas Financial Markets raised its stake in shares of Agree Realty Co. (NYSE:ADC) by 16.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,408 shares of the real estate investment trust’s stock after buying an additional 11,169 shares during the period. BNP Paribas Financial Markets owned about 0.08% of Agree Realty worth $4,422,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. HBC Financial Services PLLC acquired a new stake in shares of Agree Realty in the 4th quarter valued at $31,000. Lindbrook Capital LLC lifted 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. UMB Bank n.a. lifted its stake in shares of Agree Realty by 247.3% in the 1st quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 512 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in shares of Agree Realty by 96.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 364 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Agree Realty in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Ratings Changes

ADC has been the subject of several analyst reports. Mizuho lifted their price objective on shares of Agree Realty from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. UBS Group initiated coverage on shares of Agree Realty in a research note on Friday, May 31st. They issued a “neutral” rating and a $60.00 price objective for the company. KeyCorp initiated coverage on shares of Agree Realty in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $68.00 price objective for the company. Finally, StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Insider Transactions at Agree Realty

In related news, Director Greg Lehmkuhl acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $58.99 per share, for a total transaction of $58,990.00. Following the acquisition, the director now owns 23,036 shares in the company, valued at approximately $1,358,893.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Agree Realty Stock Up 0.6 %

Agree Realty stock opened at $64.16 on Friday. The firm has a fifty day moving average price of $60.86 and a two-hundred day moving average price of $59.25. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $69.26. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 2.45 and a beta of 0.58.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $3.00 annualized dividend and a dividend yield of 4.68%. Agree Realty’s payout ratio is 176.47%.

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.