M&T Bank Corp Has $2.47 Million Stock Position in Agree Realty Co. (NYSE:ADC)

M&T Bank Corp grew its position in Agree Realty Co. (NYSE:ADC) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,063 shares of the real estate investment trust’s stock after buying an additional 1,607 shares during the quarter. M&T Bank Corp’s holdings in Agree Realty were worth $2,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADC. FMR LLC boosted its holdings in shares of Agree Realty by 729.3% in the third 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 during the period. JPMorgan Chase & Co. lifted its position in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after purchasing an additional 990,362 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Agree Realty by 29.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after purchasing an additional 534,545 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Agree Realty by 92.6% in the third quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock worth $53,815,000 after purchasing an additional 343,400 shares in the last quarter. Finally, Waterfront Capital Partners LLC purchased a new stake in shares of Agree Realty in the third quarter worth approximately $21,326,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Up 1.3 %

Shares of NYSE ADC opened at $75.95 on Friday. The stock has a market cap of $8.15 billion, a PE ratio of 42.67, a PEG ratio of 2.88 and a beta of 0.64. The business has a fifty day moving average of $72.05 and a two-hundred day moving average of $73.67. Agree Realty Co. has a 52-week low of $54.78 and a 52-week high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The firm also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.253 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty’s dividend payout ratio is 170.22%.

Wall Street Analysts Forecast Growth

ADC has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Barclays raised shares of Agree Realty from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $74.00 to $75.00 in a research report on Tuesday, March 4th. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Mizuho cut their price objective on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Evercore ISI assumed coverage on shares of Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and an average price target of $79.69.

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.