Assetmark Inc. Has $1.19 Million Holdings in Agree Realty Co. (NYSE:ADC)

Assetmark Inc. trimmed its position in Agree Realty Co. (NYSE:ADC) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,776 shares of the real estate investment trust’s stock after selling 194 shares during the quarter. Assetmark Inc.’s holdings in Agree Realty were worth $1,188,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. MCF Advisors LLC purchased a new position in Agree Realty during the 2nd quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV raised its position in Agree Realty by 248.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 442 shares during the period. UMB Bank n.a. lifted its stake in Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Agree Realty during the 3rd quarter worth about $75,000. Finally, Headlands Technologies LLC increased its holdings in shares of Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 798 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Agree Realty Stock Performance

Shares of ADC opened at $75.57 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty Co. has a one year low of $54.28 and a one year high of $77.47. The company’s fifty day moving average price is $75.00 and its 200 day moving average price is $68.30. The company has a market capitalization of $7.82 billion, a PE ratio of 41.75, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.61). The business had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. Agree Realty’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. As a group, analysts expect that Agree Realty Co. will post 4.11 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Friday, November 29th. Agree Realty’s dividend payout ratio (DPR) is currently 167.96%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Raymond James boosted their price objective on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company cut their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Truist Financial boosted their target price on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BTIG Research raised their price target on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Mizuho boosted their price target on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and a consensus target price of $75.73.

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.