Carmel Capital Partners LLC Has $486,000 Holdings in Agree Realty Co. (NYSE:ADC)

Carmel Capital Partners LLC raised its position in shares of Agree Realty Co. (NYSE:ADC) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,894 shares of the real estate investment trust’s stock after purchasing an additional 167 shares during the quarter. Carmel Capital Partners LLC’s holdings in Agree Realty were worth $486,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after purchasing an additional 990,362 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Agree Realty by 29.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after buying an additional 534,545 shares in the last quarter. FMR LLC boosted its holdings in shares of Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after buying an additional 1,968,811 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Agree Realty by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock worth $156,327,000 after buying an additional 30,377 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Agree Realty by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,652 shares of the real estate investment trust’s stock worth $115,936,000 after buying an additional 57,297 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $75.58 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $71.85 and its two-hundred day simple moving average is $73.63. Agree Realty Co. has a 1-year low of $54.78 and a 1-year high of $78.39. The stock has a market cap of $8.11 billion, a PE ratio of 42.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.65.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. As a group, analysts forecast that Agree Realty Co. will post 4.27 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.253 per share. This represents a yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty’s dividend payout ratio (DPR) is presently 170.22%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ADC shares. Citizens Jmp cut Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. BTIG Research increased their price target on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Royal Bank of Canada cut their price target on Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus cut their price target on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Agree Realty currently has an average rating of “Moderate Buy” and a consensus price target of $79.69.

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.