Schnieders Capital Management LLC Makes New $898,000 Investment in Agree Realty Co. (NYSE:ADC)

Schnieders Capital Management LLC bought a new stake in Agree Realty Co. (NYSE:ADC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,260 shares of the real estate investment trust’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ADC. National Bank of Canada FI bought a new stake in shares of Agree Realty in the third quarter valued at approximately $824,000. CWM LLC grew its holdings in Agree Realty by 117.3% during the 3rd quarter. CWM LLC now owns 728 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 393 shares during the period. Ronald Blue Trust Inc. grew its holdings in Agree Realty by 54.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 884 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 313 shares during the period. SG Americas Securities LLC grew its holdings in Agree Realty by 136.1% during the 3rd quarter. SG Americas Securities LLC now owns 23,713 shares of the real estate investment trust’s stock worth $1,310,000 after acquiring an additional 13,671 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Agree Realty by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 55,422 shares of the real estate investment trust’s stock worth $3,061,000 after acquiring an additional 1,860 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

ADC has been the topic of a number of research analyst reports. Mizuho cut their price objective on shares of Agree Realty from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Stifel Nicolaus decreased their price target on shares of Agree Realty from $70.00 to $69.50 and set a “buy” rating for the company in a research note on Wednesday, February 14th. JMP Securities upgraded 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 research note on Monday, January 22nd. Royal Bank of Canada reduced their price objective on shares of Agree Realty from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, StockNews.com lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.61.

Insider Activity at Agree Realty

In other Agree Realty news, CEO Joey Agree bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the completion of the transaction, the chief executive officer now owns 557,903 shares of the company’s stock, valued at approximately $32,112,896.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Agree Realty news, CEO Joey Agree bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $57.56 per share, for a total transaction of $115,120.00. Following the completion of the transaction, the chief executive officer now owns 557,903 shares of the company’s stock, valued at approximately $32,112,896.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Rakolta, Jr. bought 20,430 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were acquired at an average price of $57.00 per share, with a total value of $1,164,510.00. Following the completion of the transaction, the director now directly owns 392,549 shares of the company’s stock, valued at approximately $22,375,293. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 42,482 shares of company stock worth $2,397,572. 1.80% of the stock is owned by company insiders.

Agree Realty Stock Performance

Shares of ADC traded up $0.72 during trading hours on Tuesday, hitting $57.62. The stock had a trading volume of 1,177,999 shares, compared to its average volume of 1,061,406. Agree Realty Co. has a 12 month low of $52.69 and a 12 month high of $69.26. The stock has a fifty day moving average price of $56.56 and a 200 day moving average price of $58.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $5.80 billion, a PE ratio of 33.70, a PEG ratio of 2.62 and a beta of 0.52.

Agree Realty Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Monday, April 29th. This is a boost from Agree Realty’s previous monthly dividend of $0.25. Agree Realty’s dividend payout ratio is 173.10%.

About Agree Realty

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.