Nicola Wealth Management LTD. Has $1.50 Million Holdings in Agree Realty Co. (NYSE:ADC)

Nicola Wealth Management LTD. lessened its stake in Agree Realty Co. (NYSE:ADC) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,346 shares of the real estate investment trust’s stock after selling 1,054 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Agree Realty were worth $1,504,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 293 shares during the last quarter. Financial Life Planners acquired a new stake in Agree Realty during the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 230 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Agree Realty during the 3rd quarter valued at $77,000. Finally, UMB Bank n.a. lifted its holdings in Agree Realty by 17.3% during the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Up 0.4 %

Shares of NYSE ADC opened at $74.07 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. Agree Realty Co. has a 52 week low of $54.78 and a 52 week high of $78.39. The stock has a market capitalization of $7.94 billion, a P/E ratio of 41.61, a PEG ratio of 2.88 and a beta of 0.65. The stock’s fifty day moving average is $71.69 and its 200 day moving average is $73.59.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Sell-side analysts forecast that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Announces Dividend

The business also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.253 dividend. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty’s payout ratio is currently 170.22%.

Analyst Ratings Changes

ADC has been the subject of several research reports. Mizuho cut their price target on Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays cut their price target on Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

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.