Cwm LLC Grows Stock Holdings in Agree Realty Co. (NYSE:ADC)

Cwm LLC raised its stake in shares of Agree Realty Co. (NYSE:ADC) by 202.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,202 shares of the real estate investment trust’s stock after acquiring an additional 1,474 shares during the period. Cwm LLC’s holdings in Agree Realty were worth $139,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Agree Realty by 3.4% during the third quarter. Vanguard Group Inc. now owns 13,759,418 shares of the real estate investment trust’s stock worth $760,070,000 after purchasing an additional 452,798 shares during the period. Principal Financial Group Inc. lifted its position in Agree Realty by 0.4% in the third quarter. Principal Financial Group Inc. now owns 5,941,235 shares of the real estate investment trust’s stock valued at $328,190,000 after purchasing an additional 25,723 shares during the period. Invesco Ltd. boosted its holdings in Agree Realty by 11.1% in the 3rd quarter. Invesco Ltd. now owns 2,158,567 shares of the real estate investment trust’s stock valued at $119,239,000 after purchasing an additional 216,494 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Agree Realty by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,375,914 shares of the real estate investment trust’s stock worth $76,005,000 after purchasing an additional 81,290 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of Agree Realty by 1.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,177,543 shares of the real estate investment trust’s stock worth $74,127,000 after buying an additional 21,254 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADC has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price target on Agree Realty from $70.00 to $69.50 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Mizuho reduced their price objective on shares of Agree Realty from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. JMP Securities upgraded shares of Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 target price on the stock in a research report on Monday, January 22nd. Truist Financial reduced their price target on shares of Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, BMO Capital Markets assumed coverage on Agree Realty in a report on Tuesday, February 13th. They issued an “outperform” rating and a $69.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.61.

Insider Buying and Selling at Agree Realty

In other news, CEO Joey Agree acquired 2,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $57.56 per share, with a total value of $115,120.00. Following the completion of the transaction, the chief executive officer now directly owns 557,903 shares in the company, valued at approximately $32,112,896.68. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Richard Agree acquired 16,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $55.50 per share, for a total transaction of $888,000.00. Following the acquisition, the chairman now directly owns 135,855 shares in the company, valued at approximately $7,539,952.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joey Agree purchased 2,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $57.56 per share, for a total transaction of $115,120.00. Following the acquisition, the chief executive officer now owns 557,903 shares in the company, valued at $32,112,896.68. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 42,482 shares of company stock worth $2,397,572. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

Agree Realty stock opened at $58.78 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.71 and a current ratio of 0.71. Agree Realty Co. has a fifty-two week low of $52.69 and a fifty-two week high of $69.26. The stock has a fifty day moving average of $56.72 and a two-hundred day moving average of $58.40. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.70 and a beta of 0.52.

Agree Realty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.25 dividend. This is an increase from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 5.10%. Agree Realty’s payout ratio is presently 176.47%.

Agree Realty Company 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 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.