Golden State Equity Partners Has $517,000 Holdings in Agree Realty Co. (NYSE:ADC)

Golden State Equity Partners boosted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 161.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,342 shares of the real estate investment trust’s stock after buying an additional 4,537 shares during the quarter. Golden State Equity Partners’ holdings in Agree Realty were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. increased its position in Agree Realty by 17.3% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 168 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Agree Realty by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock worth $4,438,000 after acquiring an additional 224 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Agree Realty by 34.4% during the fourth 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 boosted its holdings in shares of Agree Realty by 1.5% during the third 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 period. Finally, Carmel Capital Partners LLC boosted its holdings in shares of Agree Realty by 4.0% during the third quarter. Carmel Capital Partners LLC now owns 6,727 shares of the real estate investment trust’s stock worth $507,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Down 0.7 %

NYSE ADC opened at $72.60 on Monday. The business has a fifty day moving average price of $72.45 and a two-hundred day moving average price of $73.20. 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 fifty-two week low of $54.28 and a fifty-two week high of $78.39. The stock has a market capitalization of $7.52 billion, a PE ratio of 40.11, a PEG ratio of 2.54 and a beta of 0.64.

Agree Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders 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 4.18%. The ex-dividend date of this dividend is Friday, January 31st. Agree Realty’s payout ratio is presently 167.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ADC shares. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Truist Financial boosted their price objective on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays started coverage on Agree Realty in a report on Tuesday, December 17th. They set an “underweight” rating and a $76.00 price objective for the company. StockNews.com cut Agree Realty from a “hold” rating to a “sell” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price target for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.07.

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.