Nomura Asset Management Co. Ltd. Has $9.75 Million Position in Agree Realty Co. (NYSE:ADC)

Nomura Asset Management Co. Ltd. lifted its holdings in Agree Realty Co. (NYSE:ADC) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,370 shares of the real estate investment trust’s stock after buying an additional 5,490 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.13% of Agree Realty worth $9,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc lifted its stake in Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 293 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Agree Realty in the fourth quarter worth approximately $44,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Agree Realty by 34.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 230 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Agree Realty during the third quarter worth approximately $77,000. Finally, UMB Bank n.a. grew 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 valued at $80,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Up 0.7 %

Shares of NYSE:ADC opened at $76.56 on Monday. 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. The company has a market cap of $8.22 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.88 and a beta of 0.64. The stock’s 50-day moving average is $73.80 and its 200-day moving average is $73.90.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping 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%. Equities research analysts predict that Agree Realty Co. will post 4.27 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 annualized dividend and a yield of 3.97%. Agree Realty’s dividend payout ratio is 170.22%.

Analyst Ratings Changes

A number of brokerages have issued reports on ADC. Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wells Fargo & Company boosted their target price on Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. Finally, Mizuho dropped their price objective on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.85.

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.