Raymond James & Associates grew its position in Agree Realty Co. (NYSE:ADC – Free Report) by 4.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 265,842 shares of the real estate investment trust’s stock after acquiring an additional 11,285 shares during the period. Raymond James & Associates owned 0.29% of Agree Realty worth $17,383,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of ADC. Northwestern Mutual Wealth Management Co. raised its stake in shares of Agree Realty by 7,150.0% during the fourth 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. Atticus Wealth Management LLC acquired a new position in Agree Realty during the 2nd quarter worth about $33,000. Parallel Advisors LLC grew its position in shares of Agree Realty by 133.2% in the 1st quarter. Parallel Advisors LLC now owns 506 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 289 shares during the last quarter. Janiczek Wealth Management LLC increased its stake in shares of Agree Realty by 1,044.8% in the second quarter. Janiczek Wealth Management LLC now owns 664 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 606 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Agree Realty during the fourth quarter worth about $71,000. Institutional investors and hedge funds own 97.83% of the company’s stock.
Agree Realty Trading Up 1.8 %
NYSE:ADC opened at $54.90 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.71 and a quick ratio of 0.71. Agree Realty Co. has a one year low of $53.44 and a one year high of $75.71. The company has a market cap of $5.29 billion, a PE ratio of 31.19, a PEG ratio of 3.08 and a beta of 0.48. The firm has a 50-day moving average of $59.30 and a 200-day moving average of $63.72.
Agree Realty Increases Dividend
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ADC. Stifel Nicolaus increased their target price on shares of Agree Realty from $76.00 to $76.50 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. TheStreet cut shares of Agree Realty from a “b-” rating to a “c+” rating in a research report on Monday, September 11th. Truist Financial dropped their target price on shares of Agree Realty from $77.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, August 21st. Mizuho decreased their price target on Agree Realty from $70.00 to $67.00 in a report on Thursday, August 10th. Finally, Citigroup cut their target price on Agree Realty from $75.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, September 22nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and an average target price of $73.45.
View Our Latest Research Report on ADC
Insider Activity
In related news, Director John Rakolta, Jr. purchased 30,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average cost of $63.02 per share, with a total value of $1,890,600.00. Following the transaction, the director now owns 330,056 shares of the company’s stock, valued at approximately $20,800,129.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John Rakolta, Jr. acquired 30,000 shares of Agree Realty stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost of $63.02 per share, with a total value of $1,890,600.00. Following the transaction, the director now owns 330,056 shares of the company’s stock, valued at approximately $20,800,129.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Rakolta, Jr. bought 20,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were purchased at an average cost of $55.73 per share, for a total transaction of $1,114,600.00. Following the transaction, the director now owns 380,056 shares in the company, valued at $21,180,520.88. The disclosure for this purchase can be found here. Insiders have purchased 119,551 shares of company stock worth $7,097,470 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.
Agree Realty Profile
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 June 30, 2023, the Company owned and operated a portfolio of 2,004 properties, located in 49 states and containing approximately 41.7 million square feet of gross leasable area.
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