Barclays PLC Decreases Position in Agree Realty Co. (NYSE:ADC)

Barclays PLC lessened its position in Agree Realty Co. (NYSE:ADCFree Report) by 32.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,559 shares of the real estate investment trust’s stock after selling 26,405 shares during the period. Barclays PLC’s holdings in Agree Realty were worth $3,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in shares of Agree Realty in the third quarter worth approximately $341,000. Jump Financial LLC lifted its stake in shares of Agree Realty by 243.0% in the third quarter. Jump Financial LLC now owns 92,633 shares of the real estate investment trust’s stock worth $5,117,000 after buying an additional 65,624 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Agree Realty by 4.7% in the third quarter. Arizona State Retirement System now owns 26,536 shares of the real estate investment trust’s stock worth $1,466,000 after buying an additional 1,186 shares in the last quarter. abrdn plc raised its holdings in shares of Agree Realty by 5.0% during the third quarter. abrdn plc now owns 18,583 shares of the real estate investment trust’s stock valued at $1,027,000 after purchasing an additional 889 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Agree Realty by 5.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 57,477 shares of the real estate investment trust’s stock valued at $3,175,000 after purchasing an additional 3,041 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Agree Realty from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. BNP Paribas cut shares of Agree Realty from an “outperform” rating to a “neutral” rating and set a $64.00 price objective for the company. in a report on Wednesday, December 13th. Mizuho boosted their price objective on shares of Agree Realty from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. JMP Securities raised shares of Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a report on Monday, January 22nd. Finally, Truist Financial boosted their price objective on shares of Agree Realty from $62.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and an average price target of $68.44.

Read Our Latest Research Report on Agree Realty

Insider Buying and Selling at Agree Realty

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

Agree Realty Stock Up 1.1 %

Shares of ADC stock opened at $58.14 on Tuesday. Agree Realty Co. has a 12 month low of $52.69 and a 12 month high of $75.09. The stock has a market cap of $5.84 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.23 and a beta of 0.54. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The company has a 50 day simple moving average of $61.21 and a two-hundred day simple moving average of $59.67.

Agree Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th will be issued a dividend of $0.247 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $2.96 dividend on an annualized basis and a yield of 5.10%. Agree Realty’s dividend payout ratio is currently 173.10%.

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.

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

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