Dana Investment Advisors Inc. decreased its holdings in shares of Agree Realty Co. (NYSE:ADC) by 2.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 20,829 shares of the real estate investment trust’s stock after selling 491 shares during the period. Dana Investment Advisors Inc.’s holdings in Agree Realty were worth $1,468,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FFT Wealth Management LLC purchased a new position in Agree Realty during the 2nd quarter valued at about $28,000. IFP Advisors Inc increased its position in Agree Realty by 783.9% during the 2nd quarter. IFP Advisors Inc now owns 495 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 439 shares during the period. Panagora Asset Management Inc. increased its position in Agree Realty by 378.0% during the 1st quarter. Panagora Asset Management Inc. now owns 631 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 499 shares during the period. Montag A & Associates Inc. purchased a new position in Agree Realty during the 1st quarter valued at about $51,000. Finally, Eaton Vance Management purchased a new position in Agree Realty during the 1st quarter valued at about $67,000.
ADC stock opened at $71.11 on Wednesday. The firm has a 50 day moving average of $73.86 and a 200 day moving average of $70.76. The stock has a market capitalization of $4.90 billion, a PE ratio of 43.63 and a beta of 0.31. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.49. Agree Realty Co. has a 52 week low of $61.27 and a 52 week high of $75.95.
The firm also recently disclosed a monthly dividend, which was paid on Tuesday, September 14th. Shareholders of record on Tuesday, August 31st were paid a dividend of $0.217 per share. This represents a $2.60 annualized dividend and a yield of 3.66%. The ex-dividend date was Monday, August 30th. Agree Realty’s payout ratio is 80.50%.
A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Agree Realty from a “buy” rating to a “hold” rating in a research report on Monday, September 6th. BTIG Research raised their price target on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Wells Fargo & Company raised their price target on shares of Agree Realty from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, June 25th. Mizuho raised their price target on shares of Agree Realty from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, August 24th. Finally, Truist raised their price target on shares of Agree Realty from $78.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 30th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Agree Realty currently has an average rating of “Buy” and a consensus target price of $80.41.
Agree Realty Company Profile
Agree Realty Corp. is a real estate investment trust, which focuses on the ownership, development, acquisition, and management of retail properties net leased to national tenants. It specializes in acquiring and developing net leased retail properties for retail tenants. The company was founded by Richard Agree in 1971 and is headquartered in Bloomfield Hills, MI.
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