Swiss National Bank Purchases 8,400 Shares of Agree Realty Co. (NYSE:ADC)

Swiss National Bank grew its stake in shares of Agree Realty Co. (NYSE:ADCFree Report) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 204,882 shares of the real estate investment trust’s stock after buying an additional 8,400 shares during the quarter. Swiss National Bank’s holdings in Agree Realty were worth $11,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Agree Realty by 7,150.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 435 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 429 shares during the last quarter. CWM LLC boosted its holdings in shares of Agree Realty by 117.3% during the 3rd quarter. CWM LLC now owns 728 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 393 shares during the last quarter. State of Wyoming boosted its holdings in shares of Agree Realty by 34.8% during the 2nd quarter. State of Wyoming now owns 666 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 172 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new position in shares of Agree Realty in the second quarter worth approximately $48,000. Finally, Ronald Blue Trust Inc. boosted its holdings in shares of Agree Realty by 54.8% in the third quarter. Ronald Blue Trust Inc. now owns 884 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ADC. Mizuho raised their target price on shares of Agree Realty from $61.00 to $65.00 and gave the stock a “neutral” rating in a research note 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 target price for the company in a report on Monday, January 22nd. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Royal Bank of Canada raised their target price 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. Finally, BNP Paribas lowered shares of Agree Realty from an “outperform” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Wednesday, December 13th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.44.

Get Our Latest Report on Agree Realty

Insider Activity

In related news, CEO Joey Agree bought 1,350 shares of the 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 completion of the purchase, the chief executive officer now owns 554,603 shares of the company’s stock, valued at $32,427,637.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Joey Agree bought 1,350 shares of the 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 completion of the purchase, the chief executive officer now owns 554,603 shares of the company’s stock, valued at $32,427,637.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Richard Agree bought 10,500 shares of the stock in a transaction dated Wednesday, January 10th. The shares were bought at an average cost of $62.57 per share, with a total value of $656,985.00. Following the completion of the purchase, the chairman now directly owns 119,855 shares of the company’s stock, valued at approximately $7,499,327.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 26,550 shares of company stock valued at $1,651,629. 1.60% of the stock is currently owned by company insiders.

Agree Realty Stock Up 1.1 %

NYSE ADC opened at $58.14 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $61.21 and a two-hundred day moving average of $59.67. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.23 and a beta of 0.54. Agree Realty Co. has a 52 week low of $52.69 and a 52 week high of $75.09.

Agree Realty Dividend Announcement

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

Agree Realty Profile

(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.

Further Reading

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Co. (NYSE:ADCFree Report).

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

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