Baird Financial Group Inc. Has $526,000 Stake in Agree Realty Co. (NYSE:ADC)

Baird Financial Group Inc. increased its stake in shares of Agree Realty Co. (NYSE:ADCGet Rating) by 8.0% during the second quarter, HoldingsChannel.com reports. The fund owned 7,294 shares of the real estate investment trust’s stock after purchasing an additional 542 shares during the period. Baird Financial Group Inc.’s holdings in Agree Realty were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Private Capital Group LLC grew its holdings in Agree Realty by 20.0% in the 2nd quarter. Private Capital Group LLC now owns 875 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 146 shares during the last quarter. Fifth Third Bancorp grew its holdings in Agree Realty by 4.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,605 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 162 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Agree Realty by 3.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,457 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 183 shares during the last quarter. New Century Advisors LLC grew its holdings in Agree Realty by 56.1% in the 2nd quarter. New Century Advisors LLC now owns 576 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 207 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Agree Realty by 88.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 476 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 223 shares during the last quarter.

Agree Realty Price Performance

Agree Realty stock opened at $69.98 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $6.20 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 3.22 and a beta of 0.45. Agree Realty Co. has a one year low of $61.62 and a one year high of $80.44. The business has a 50 day simple moving average of $68.17 and a 200 day simple moving average of $71.50.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th will be given a $0.24 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $2.88 annualized dividend and a yield of 4.12%. Agree Realty’s payout ratio is 157.38%.

Analyst Ratings Changes

A number of analysts have issued reports on ADC shares. Raymond James lowered their target price on Agree Realty from $85.00 to $80.00 and set a “strong-buy” rating on the stock in a report on Tuesday, October 4th. JMP Securities decreased their price objective on Agree Realty from $82.00 to $75.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 18th. Morgan Stanley decreased their price objective on Agree Realty from $77.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, November 2nd. Citigroup lifted their price objective on Agree Realty to $80.00 in a report on Monday, August 15th. Finally, Truist Financial lifted their price objective on Agree Realty from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.41.

About Agree Realty

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Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.

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Institutional Ownership by Quarter for Agree Realty (NYSE:ADC)

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