Yousif Capital Management LLC Sells 666 Shares of Agree Realty Co. (NYSE:ADC)

Yousif Capital Management LLC reduced its stake in shares of Agree Realty Co. (NYSE:ADC) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 39,580 shares of the real estate investment trust’s stock after selling 666 shares during the quarter. Yousif Capital Management LLC’s holdings in Agree Realty were worth $2,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. lifted its stake 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 purchasing an additional 168 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Agree Realty by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock valued at $4,438,000 after buying an additional 224 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 230 shares during the period. US Bancorp DE increased its holdings in Agree Realty by 1.5% in the 3rd quarter. US Bancorp DE now owns 17,130 shares of the real estate investment trust’s stock worth $1,290,000 after acquiring an additional 252 shares during the last quarter. Finally, Carmel Capital Partners LLC raised its stake in Agree Realty by 4.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 6,727 shares of the real estate investment trust’s stock valued at $507,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

ADC stock opened at $72.92 on Monday. The firm has a 50 day simple moving average of $72.03 and a two-hundred day simple moving average of $73.42. The stock has a market cap of $7.55 billion, a PE ratio of 40.29, a P/E/G ratio of 2.87 and a beta of 0.65. Agree Realty Co. has a one year low of $54.28 and a one year high of $78.39. 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 Announces Dividend

The business also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.253 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is presently 167.40%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADC. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective for the company. Mizuho dropped their target price on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays cut their price target on Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Finally, UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.93.

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.