Vanguard Personalized Indexing Management LLC Increases Stake in Agree Realty Co. (NYSE:ADC)
Vanguard Personalized Indexing Management LLC increased its stake in Agree Realty Co. (NYSE:ADC – Free Report) by 162.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,797 shares of the real estate investment trust’s stock after acquiring an additional 10,405 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Agree Realty were worth $1,057,000 as of its most recent SEC filing. A number of other institutional investors have also recently bought and sold shares of the stock. HBC Financial Services PLLC purchased a new stake in shares of Agree Realty during the 4th quarter valued at $31,000. Lindbrook Capital LLC grew its position in Agree Realty by 267.1% during the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 430 shares during the period. Jamison Private Wealth Management Inc. grew its position in Agree Realty by 96.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 364 shares during the period. GAMMA Investing LLC acquired a new stake in Agree Realty during the fourth quarter worth about $44,000. Finally, Blue Trust Inc. raised its holdings in shares of Agree Realty by 42.0% in the 4th quarter. Blue Trust Inc. now owns 1,255 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 371 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors. Analyst Ratings Changes A number of analysts have recently issued reports on the company. Mizuho boosted their target price on Agree Realty from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Royal Bank of Canada cut their target price on shares of Agree Realty from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Wells Fargo & Company decreased their price target on shares of Agree Realty from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Finally, Truist Financial lowered their price target on Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.83. Check Out Our Latest Stock Report on Agree Realty Agree Realty Stock Performance Shares of ADC stock opened at $60.53 on Monday. The company’s fifty day moving average price is $57.35 and its two-hundred day moving average price is $58.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $6.09 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.78 and a beta of 0.52. Agree Realty Co. has a 12 month low of $52.69 and a 12 month high of $69.26. Agree Realty Dividend Announcement The firm also recently declared a monthly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Thursday, May 30th. Agree Realty’s dividend payout ratio is currently 176.47%. Insider Buying and Selling at Agree Realty In other Agree Realty news, CEO Joey Agree bought 3,500 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $56.92 per share, with a total value of $199,220.00. Following the transaction, the chief executive officer now directly owns 561,403 shares in the company, valued at approximately $31,955,058.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Joey Agree acquired 3,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $56.92 per share, with a total value of $199,220.00. Following the acquisition, the chief executive officer now directly owns 561,403 shares in the company, valued at $31,955,058.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard Agree bought 16,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $55.50 per share, for a total transaction of $888,000.00. Following the purchase, the chairman now owns 135,855 shares in the company, valued at approximately $7,539,952.50. The disclosure for this purchase can be found here. Insiders acquired a total of 20,052 shares of company stock worth $1,117,942 in the last 90 days. 1.80% of the stock is owned by corporate insiders. Agree Realty Company 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 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. Read More Five stocks we like better than Agree Realty What is the S&P 500 and How It is Distinct from Other Indexes Canada Goose Flies Higher Driven By DTC Growth What is a Dividend Harvesting Strategy and How Can Investors Profit from it? CVS Health Stock Has a Silver Lining Called Value Basic Materials Stocks Investing Magnificent 7 Still Magnificent as the Halfway Mark Approaches? 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:ADC – Free Report).
Surprise Spring Slowdown
U.S. equity markets climbed to fresh record highs, while benchmark interest rates dipped to one-month lows after a critical slate of inflation and retail sales data showed an unexpected cooldown. Reflecting the mounting quantity of downside economic surprises, the Citi Economic Surprise Index dipped to the lowest level since early 2023, indicating a rather abrupt reversal in economic momentum. Mildly encouraging inflation news and sluggish retail sales data lifted bets that the Fed can cut rates multiple times this year. Climbing to fresh record highs, the S&P 500 gained 1.6%.
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