Atomi Financial Group Inc. Invests $240,000 in Agree Realty Co. (NYSE:ADC)

Atomi Financial Group Inc. acquired a new position in shares of Agree Realty Co. (NYSE:ADC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,407 shares of the real estate investment trust’s stock, valued at approximately $240,000.

Other large investors have also modified their holdings of the company. Lmcg Investments LLC purchased a new position in Agree Realty in the fourth quarter valued at approximately $3,112,000. Ballentine Partners LLC purchased a new position in Agree Realty in the fourth quarter valued at approximately $384,000. MassMutual Private Wealth & Trust FSB raised its holdings in Agree Realty by 34.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 230 shares during the period. UMB Bank n.a. raised its holdings in Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 168 shares during the period. Finally, Community Bank of Raymore raised its holdings in Agree Realty by 6.3% in the fourth quarter. Community Bank of Raymore now owns 44,005 shares of the real estate investment trust’s stock valued at $3,100,000 after buying an additional 2,605 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty in a report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price target on the stock. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Evercore ISI initiated coverage on shares of Agree Realty in a research report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective for the company. Finally, BTIG Research increased their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.07.

Agree Realty Stock Up 0.5 %

ADC stock opened at $71.84 on Monday. Agree Realty Co. has a twelve month low of $54.28 and a twelve month high of $78.39. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $7.44 billion, a P/E ratio of 39.69, a PEG ratio of 2.52 and a beta of 0.64. The firm has a 50 day simple moving average of $72.85 and a 200-day simple moving average of $72.93.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.253 per share. This represents a $3.04 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Friday, January 31st. Agree Realty’s dividend payout ratio (DPR) is presently 167.96%.

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.