J.P. Morgan Private Wealth Advisors LLC Has $1.80 Million Stock Holdings in Agree Realty Co. (NYSE:ADC)

J.P. Morgan Private Wealth Advisors LLC cut its holdings in Agree Realty Co. (NYSE:ADCFree Report) by 15.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,553 shares of the real estate investment trust’s stock after selling 5,838 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Agree Realty were worth $1,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ensign Peak Advisors Inc raised its holdings in Agree Realty by 0.7% in the first quarter. Ensign Peak Advisors Inc now owns 23,042 shares of the real estate investment trust’s stock worth $1,581,000 after purchasing an additional 150 shares during the period. Baird Financial Group Inc. raised its holdings in Agree Realty by 2.6% in the fourth quarter. Baird Financial Group Inc. now owns 6,812 shares of the real estate investment trust’s stock worth $484,000 after purchasing an additional 171 shares during the period. State of Wyoming raised its holdings in Agree Realty by 34.8% in the second quarter. State of Wyoming now owns 666 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 172 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Agree Realty by 3.5% in the first quarter. Ameritas Investment Partners Inc. now owns 5,457 shares of the real estate investment trust’s stock worth $362,000 after purchasing an additional 183 shares during the period. Finally, First National Bank of Omaha raised its holdings in shares of Agree Realty by 0.7% during the second quarter. First National Bank of Omaha now owns 28,520 shares of the real estate investment trust’s stock worth $1,865,000 after acquiring an additional 204 shares during the period. 97.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADC has been the topic of a number of research analyst reports. BNP Paribas lowered shares of Agree Realty from an “outperform” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a report on Wednesday, December 13th. Truist Financial raised their price objective on shares of Agree Realty from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Friday, January 26th. JMP Securities upgraded shares of Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Monday, January 22nd. Finally, Mizuho raised their price objective on shares of Agree Realty from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.44.

View Our Latest Research Report on Agree Realty

Agree Realty Stock Down 0.8 %

Shares of ADC stock opened at $57.53 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. Agree Realty Co. has a 1 year low of $52.69 and a 1 year high of $75.09. The firm’s fifty day moving average price is $61.21 and its two-hundred day moving average price is $59.73. The firm has a market capitalization of $5.78 billion, a P/E ratio of 33.64, a PEG ratio of 2.24 and a beta of 0.54.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th will be given a $0.247 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Wednesday, February 28th. Agree Realty’s dividend payout ratio (DPR) is presently 173.10%.

Insider Activity

In other news, CEO Joey Agree acquired 1,350 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was bought at an average price of $58.47 per share, with a total value of $78,934.50. Following the transaction, the chief executive officer now directly owns 554,603 shares in the company, valued at approximately $32,427,637.41. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Richard Agree acquired 10,500 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was bought at an average price of $62.57 per share, with a total value of $656,985.00. Following the transaction, the chairman now directly owns 119,855 shares in the company, valued at approximately $7,499,327.35. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joey Agree acquired 1,350 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average cost of $58.47 per share, with a total value of $78,934.50. Following the transaction, the chief executive officer now owns 554,603 shares in the company, valued at $32,427,637.41. The disclosure for this purchase can be found here. Insiders bought a total of 26,550 shares of company stock valued at $1,651,629 in the last quarter. Company insiders own 1.60% of the company’s stock.

About Agree Realty

(Free Report)

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 September 30, 2023, the Company owned and operated a portfolio of 2,084 properties, located in 49 states and containing approximately 43.2 million square feet of gross leasable area.

See Also

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

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