5,368 Shares in Agree Realty Co. (NYSE:ADC) Purchased by Oak Thistle LLC

Oak Thistle LLC bought a new position in Agree Realty Co. (NYSE:ADC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,368 shares of the real estate investment trust’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HBC Financial Services PLLC purchased a new stake in Agree Realty during the fourth quarter valued at approximately $31,000. Lindbrook Capital LLC grew its stake in Agree Realty by 267.1% in the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 430 shares in the last quarter. Jamison Private Wealth Management Inc. grew its stake in 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 worth $47,000 after purchasing an additional 364 shares in the last quarter. GAMMA Investing LLC bought a new position in Agree Realty in the fourth quarter worth approximately $44,000. Finally, ICA Group Wealth Management LLC bought a new position in Agree Realty in the fourth quarter worth 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 related news, Director Greg Lehmkuhl acquired 1,000 shares of Agree Realty stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $58.99 per share, for a total transaction of $58,990.00. Following the purchase, the director now owns 23,036 shares of the company’s stock, valued at approximately $1,358,893.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

ADC stock traded down $0.28 during midday trading on Monday, reaching $61.66. The stock had a trading volume of 840,142 shares, compared to its average volume of 942,035. The firm has a fifty day simple moving average of $60.05 and a two-hundred day simple moving average of $59.18. The stock has a market cap of $6.20 billion, a PE ratio of 36.27, a P/E/G ratio of 2.44 and a beta of 0.58. Agree Realty Co. has a 52-week low of $52.69 and a 52-week high of $69.26. 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.87%. Agree Realty’s payout ratio is currently 176.47%.

Analysts Set New Price Targets

Several brokerages have issued reports on ADC. UBS Group began coverage on Agree Realty in a research report on Friday, May 31st. They set a “neutral” rating and a $60.00 target price on the stock. Mizuho increased their target price on Agree Realty from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, KeyCorp began coverage on Agree Realty in a research report on Wednesday, June 12th. They set an “overweight” rating and a $68.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.50.

About Agree Realty

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.